NOCIL’s board of directors has given nod to an in-principle CAPEX proposal of Rs 168 crore – for Phase 2 expansion of its production facilities for rubber chemicals at Dahej / Navi Mumbai.
A decision in this regard was taken at a meeting held on 20 December 2017.
The said investment is expected to be maintain the asset turnover ration of 2:1. The said capex is expected to be completed during Q1 FY 2019-20.
It is learnt that expansion with investment of Rs 170 crore (phase 1) already announced in March 2017 is progressing well. The expanded facilities are expected to commence commercial production latest by Q3 FY 2018-19.
Image Credit : nocil.com