Meghmani Finechem Ltd (MFL), a subsidiary of Meghmani Organics Limited plans to set up Hydrogen Peroxide Project and expansion of Caustic Chlorine & Captive Power Plant capacity at GIDC, Dahej.
The Caustic Chlorine plant with a Caustic manufacturing capacity of 476 ton per day (TPD) and 60 MW captive power plant is located at GIDC, Dahej, Bharuch, in South Gujarat.
The company also is consider the proposal to set up Hydrogen Peroxide (50%) project of 150 TPD. The production capacity of caustic is being increased by 240 TPD (50% increase in present capacity) by using Zero gap Membrane Cell Technology.
To operate additional capacities of Hydrogen and Caustic, MFL is planning to increase Captive Power Plant capacity from 60MW to 90MW.
The plant will be set up at existing manufacturing facility of MFL situated at Plot No. CH1, CH2, GIDC, Dahej, Bharuch and will be commissioned in June 2019. The cost of the project is estimated at Rs. 400 crores and it will be funded from internal accruals and term loans.
Shares of MEGHMANI ORGANICS LTD. was last trading in BSE at Rs.39.75 as compared to the previous close of Rs. 39.7. The total number of shares traded during the day was 760552 in over 2421 trades.
The stock hit an intraday high of Rs. 41.3 and intraday low of 39.6. The net turnover during the day was Rs. 30883213.