Companies

Manali Petro scaling up production in flood-hit TN plants

PTI Chennai | Updated on January 19, 2018

Manali Petrochemicals on Monday said it was gradually increasing production at its two plants here which had to be shut down following devastating floods last month.

The company had suspended production of petroleum products at its plant I for a period of 27 days and plant II for 18 days due to floods that caused due to record rainfall.

“The production is being ramped up to full levels in plant I. Production at plant II was also scaled up,” the Chennai-based company said in a statement.

In order to minimise the impact of the closure, the company has taken up action to scale up the production to the maximum extent in the coming months, it said.

The firm has adequate industrial all risk cover including loss of profits, it added.

Shares of the company closed up 3.29 per cent at Rs 31.40 on BSE.

Published on January 04, 2016

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