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The board of Gujarat Alkalies and Chemicals has approved setting up of a 39,600-tonnes per annum chlorotoluenes plant at the Dahej complex at an estimated cost of ₹120 crore. The company expects the project to be completed in 18 months. The project cost would be funded through internal accruals/surplus generated from international operations and, if necessary, also external commercial borrowings or rupee-term loan. The chlorotoluenes plant is expected to add ₹300 crore annual sales, the company said in a notice to the stock exchanges. Shares of Gujarat Alkalies closed a tad higher at ₹723.25 on the NSE.
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