SRF gets board nod for Bangladesh, Thailand investment

Our Bureau New Delhi | Updated on November 17, 2017 Published on July 28, 2011

A robust showing by its chemicals business has helped SRF Ltd report a 51 per cent increase in net profit at Rs 83 crore during the first quarter of 2011-12. The chemical-based industrial-intermediates firm achieved a 35 per cent surge in net sales at Rs 835 crore during the period.

The company's board, which met here on Thursday, approved a proposal to set up a polyester line (of biaxially-oriented polyethylene-terephthalate or BOPET, a polyester film made from stretched polyethylene terephthalate) with a capacity of 28,500 tonnes annually in Bangladesh, and a metalliser (that enables coating metals on the surface of non-metallic objects) with a capacity of 7,050 tonnes annually in Thailand at a total investment of around Rs 290 crore.

The plan to set up the film plant in Bangladesh through a 80 to 20 joint venture with Nitol Niloy Group will be reviewed by the board, SRF said in a statement.

The board also approved an upward revision in capital investment for a multipurpose chemical plant at Dahej to Rs 132 crore from around Rs 97 crore. It had earlier approved the project in March 2010. The shares of the company on Thursday closed 1.16 per cent down at Rs 319.85 on the BSE.

Published on July 28, 2011
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