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Friday, Feb 27, 2004

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Work resumes at Grasim's Harihar plants

Our Bureau

Mumbai , Feb. 26

GRASIM Industries Ltd has informed the BSE that in view of sudden release of water by the Bhadra Dam Authorities in the Tungabhadra River, water supply has become available for both the Viscose Staple Fibre (VSF) Plant and Pulp Plant at Harihar (Karnataka).

Accordingly, the Pulp and VSF plants have restarted from February 26.

The company has also said that there could be further interruption in water supply until the onset of the monsoon.

"There could be more disruption of production during the period whenever there is stoppage of water supply,'' Grasim told the BSE.

However, this will not have any significant impact on the current quarter's profitability as the company's other two VSF plants at Nagda (MP) and Kharach (Gujarat) are already operating at more than rated capacity.

The company has already built up sufficient inventory level to meet the customers' requirements.

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