Good Luck India to start new facility in Gujarat

Good Luck India is planning to set up a new facility in Gujarat.

Speaking to CNBC-TV18, the company’s chief executive officer Ram Agarwal said that the proposed manufacturing facility will be of 72,000 metric tonnes per annum (MTPA).

He also said that the new added capacity of 72,000 MTPA will generate revenue around Rs 300 crore.

The company needs to invest Rs 74 crore for this facility. Giving details about funding, Agarwal said Rs 55 crore will be financed through debt and balance will be financed by the promoters and internal accrual.

The location of new plant is strategic for the company. The emphasis will be mainly on the exports, however it will cover the domestic market as well, he said.

Image Credit : static-news.moneycontrol.com

Research Desk

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