Gujarat Ambuja Exports Ltd inks MOU with Gujarat Government for new plant

Gujarat Ambuja Exports Ltd has entered into a Memorandum of Understanding ("MOU") with the Government of Gujarat to setup a 900 TPD Greenfield Corn Wet-Milling Plant at Himmatnagar, Gujarat.

The state-of-the-art Manufacturing facility would have a capacity of 550 TPD of Maize Starch Powder, 50 TPD of Malto-Dextrin Powder and 300 TPD of Feed Ingredients. The Greenfield Expansion is expected to be completed by 2025. The facility will be setup adjacent to the existing 550 TPD Corn Wet-Milling Plant. With this, the company's total Maize Processing capacity will reach 6000 TPD by 2025. The cost of the project would be Rs 333 crores, which would be financed via internal accruals.

The MOU is subject to the necessary approvals and clearances from the concerned authorities.

Shares of Gujarat Ambuja Exports Limited was last trading in BSE at Rs. 238.55 as compared to the previous close of Rs. 231.15. The total number of shares traded during the day was 55808 in over 2470 trades.

The stock hit an intraday high of Rs. 245.50 and intraday low of 230.05. The net turnover during the day was Rs. 13367976.00.

Source : Equity Bulls

Keywords

GujaratAmbujaExports INE036B01030 GAEL MOU GujaratGovernment Greenfield CornWetMillingPlant