Amit Spinning Industries Ltd has lifted the lock out in yarn manufacturing unit at Kolhapur, Maharashtra, after the management and the labour union reached an understanding and production is likely to start shortly in the unit.
D.B. Corp Ltd has said that on Monday a decision was taken for acquisition of the business of M.P. Printers, a division of Writers and Publishers Private Ltd (a Dainik Bhaskar Group company) engaged in high quality commercial printing and having state-of-the-art printing facilities, on a slump sale basis, subject to completion of requisite legal formalities.
The project is based on natural gas as feedstock to be supplied at competitive price by Republic of Gabon and will produce granular urea.
GFC is expected to be one of the lowest cost producers of urea globally and, therefore, well positioned to meet the demand in its key target markets. It is planned to complete the FEED and OBE within seven months and thereafter achieve commercial production of urea within 31 months.