Navin Fluorine International Limited is planning a capex program at Dahej (Gujarat) through a wholly owned subsidiary with an estimated aggregate capital outlay of over Rs. 450 crores over the next 3 - 4 years.
The Board of Directors, at their meeting held today has initially approved capital expenditure of approx. Rs. 90 crores for site development and related infrastructure on approx. 74 acres of land for greenfield projects at Dahej (Gujarat) through a wholly owned subsidiary, to be incorporated, details of which are annexed. The said capital expenditure will be funded by the Company out of its internal accruals.
The development of the infrastructure will enable the Company to set up various future greenfield projects in fluorochemicals. Each of these projects will be separately approved by the Board over a period of time and we shall update all in the due course.
The Company currently has manufacturing units at Surat (Gujarat) and Dewas (Madhya Pradesh).
Shares of Navin Fluorine International Limited was last trading in BSE at Rs.907.95 as compared to the previous close of Rs. 885.75. The total number of shares traded during the day was 6240 in over 843 trades.
The stock hit an intraday high of Rs. 915.95 and intraday low of 888. The net turnover during the day was Rs. 5668040.