GSFC looking to set up phosphoric acid plant
Gujarat State Fertilizers and Chemicals (GSFC) is planning to set up a phosphoric acid plant, VD Nanavaty, chief financial officer (CFO) and executive director (ED) of finance, told CNBC-TV18.
Gujarat State Fertilizers and Chemicals (GSFC) is planning to set up a phosphoric acid plant, VD Nanavaty, chief financial officer (CFO) and executive director (ED) of finance, told CNBC-TV18.
The manufacturer of fertilisers and industrial chemicals reported good earnings for the June-ended quarter both on a year-on-year (YoY) and sequential basis. The growth this time around was led by the industrial products segment.
“On a larger scale, we are thinking of putting up a phosphoric acid plant with a capex of around Rs 1,500-2,000 crore.” Nanavaty said.
He further said that the company is also planning to set up an ammonia nitrate plant with a capacity of 400 mtpd.
On subsidy, Nanavaty said, “The government has been paying subsidies regularly and the outstanding subsidy is around Rs 500-600 crore.”
For the entire management interview, watch the video
(Edited by : Dipika Ghosh)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Stampede-like situation disrupts Rahul Gandhi, Akhilesh Yadav's joint rally in Uttar Pradesh
May 19, 2024 4:26 PM
Ladakh Lok Sabha election: With Independent candidate's entry, it's now a 3-way contest for BJP and Congress
May 19, 2024 4:01 PM