Captain Pipes Ltd to invest Rs. 25 crores for greenfield plant

The board of directors of CAPTAIN PIPES LIMITED at its meeting held today at the registered office of the company (Start time: 4:00 P.M.) (End time : 5:40 P.M. ) have considered and approved a plan for setting up a greenfield plant near Ahmedabad at a total investment of INR 25 crores. The proposed plant will have capacity of 20,000 MT which will double total production capacity from current level. The commercial production from the plant is expected to start before the end of 2024. The company has identified the land for setting up this plant and acquisition of the land will be concluded soon. Company will use the fund from internal accruals and bank financing for investment in the new plant.

Commenting on the expansion plan, the Management added: "We are thrilled to announce the approval of our ambitious plan to establish a state-of-the-art greenfield plant near Ahmedabad, representing a significant milestone in our growth journey. Our commitment to innovation and expansion is evident, as we look forward to commencing commercial production at this new facility by the end of 2024. This investment aligns with our vision for sustainable growth and underscores our dedication to delivering high-quality products to our valued customers. We are confident that this endeavor will further solidify Captain Pipes Ltd.'s position as a leader in the PVC pipes industry."

Source : Equity Bulls

Keywords

CaptainPipes ExpansionPlan GreenfieldPlant