India: SRF to invest INR 425 crores for setting up aluminium foil plant
On 25th January 2022, the ‘Board of Directors’ of SRF Limited during the meeting has approved setting up an aluminium foil manufacturing plant for an investment of INR 425 crores.
SRF Limited is a multi-business chemicals conglomerate engaged in the manufacturing of industrial and speciality intermediates.
However, the company’s business portfolio engulfs fluorochemicals, speciality chemicals, packaging films, technical textiles, coated and laminated fabrics.
Now setting foot in the new project, SRF stated the proposed capacity addition of 21000 MTPA will be added by 30th September 2023 for INR 425 crores. The funds will be raised through a mix of debt and internal accruals.
SRF has revealed that CAPEX will be capitalised on business synergies by expanding in the area of business adjacencies. The capital expenditure is proposed to capitalise on business alliances by expanding in the area of business proximity.
Currently, SRF operates its existing businesses with a workforce of close to 7,000 employees working across eleven manufacturing plants in India and one each in Thailand, South Africa and Hungary and the company exports to more than 75 countries around the world.
US aluminium scrap import from Canada drops by 7.39% Y-o-Y in October 2021
Next articleHindalco further cuts its aluminium billets and wire rod prices by INR2750/t with effect from January 25
Grow with
AL Circle
