Vikas WSP lines up Rs 7.35 bn expansion plan
Vikas WSP lines up Rs 7.35 bn expansion plan >Vikas WSP announced that it is planning to establish two plants, at Bikaner and Baroda for Rs 7.35 billion. The company plans to establish a plant at Khara, RIICO, Bikaner, to produce certified organic products. The plant is expected to commence operation in 2009-10. It would involve a capital investment of Rs 2 billion for land, building, plant & machinery and Rs 1.60 billion for financing the farmers to grow organic crops on 0.62 million hectares. It also planned a Guar derivative plant at GIDC Savli, Baroda, to produce Hydroxypropylguar, Carboxymethylhydroxypropylguar and cationic guar, to be used for fracturing oil and gas wells and also for personnel care market. The plant is expected to commence operation in 2010-11 and will re quire Rs 3.75 billion for land, building and plant & machinery.
Shares of the company gained Rs 0.65, or 1.07%, to Rs 61.35. The total volume of shares traded was 1,924,227 at the BSE. (Friday)
