Gravita India Limited, a leading global recycl ing company having its recycling presence around the globe, proudly informs that Recycler Ghana Limited, a step down subsidiary of the company situated in Ghana, West Africa has started commercial production of Lead from its new plant having an capacity of around 6000 MTPA. The company has plans to increase the capacity of said plant by adding further capacity of 6000 MTPA which is expected to be completed by July 2019 and after that addition the overall capacity of said plant will be 12000 MTPA.
The Group has decided to make investment of approx. Rs. 21 Crores for establishment of this New Recycling Plant having capacity of 12000 MTPA out of which approx Rs. 18 Crores has already been invested from internal accruals of the company.
The production from the Ghana plant will provide strategic advantage to the company to cater to the European and US Market. This plant will help the company to save the logistics cost which will reduce the working capital cycle of the company resulting in better margins.
The Company is expecting revenue of approx. Rs. 110 Crores from this Lead Recycling Plant during F.Y. 2019-20.
Gravita Group is leader amongst recycling companies across the globe and installation of this plant w ill help company to strengthen its Recycling DNA across the globe.
Shares of GRAVITA INDIA LTD. was last trading in BSE at Rs.70.05 as compared to the previous close of Rs. 70.25. The total number of shares traded during the day was 8003 in over 91 trades.
The stock hit an intraday high of Rs. 72.45 and intraday low of 68.9. The net turnover during the day was Rs. 565644.