Sree Rayalaseema Alkalies & Allied Chemicals commissions Chloromethanes Project

Sree Rayalaseema Alkalies & Allied Chemicals Ltd has announced the starting of commercial production of "Chloromethanes Project" on March 26, 2016.

The total cost of the project was Rs. 181 crores, out of which Rs. 100 crores was funded by banks through term loans.

The expected turnover from this project is Rs. 162 crores and the expected profitability before tax is Rs. 34 crores.

Haulu Engineering & Technology Company Ltd, China is the original equipment & license supplier.

The main raw materials for this project are Methanol and Chlorine (captive consumption) and the end products are Methylene Chloride, Chloroform and Carbon Tetra Chloride.

Shares of SREE RAYALASEEMA ALKALIES & ALLIED CHEMICALS LTD. was last trading in BSE at Rs.16.5 as compared to the previous close of Rs. 16.02. The total number of shares traded during the day was 69095 in over 117 trades.

The stock hit an intraday high of Rs. 16.75 and intraday low of 16.05. The net turnover during the day was Rs. 1144039.

Source : Equity Bulls

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