Gravita India announced that its step down subsidiary, Recycler Ghana, situated in Ghana, West Africa has started commercial production ofLead from its new plant having an capacity of around 6000 MTPA.
The company has plans toincrease the capacity of said plant by adding further capacity of 6000 MTPA which is expectedto be completed by July 2019 and after that addition the overall capacity of said plant will be12000 MTPA.
The Group has decided to make investment of approx. Rs. 21 crore for establishment of thisNew Recycling Plant having capacity of 12000 MTPA out of which approx Rs. 18 crore hasalready been invested from internal accruals of the company.
The production from the Ghana plant will provide strategic advantage to the company to caterto the European and US Market. This plant will help the company to save the logistics costwhich will reduce the working capita l cycle of the company resu lting in better margins.
The Company is expecting revenue of approx. Rs. 110 crore from this Lead Recycling Plantduring F.Y. 2019-20.