The production from the Chittoor plant will cater to the needs of injection moulding and nonwoven fabric industry globally.
“The company has plans to increase the capacity of said (Chittoor) plant to 6,000 MTPA by installing two more plastic recycling lines. This plastic recycling plant is replica of existing plant situated at Phagi, Jaipur which is running successfully and will help the company to increase its top line and bottom line in FY 2018-19,” Gravita said in a media release.
Gravita has plans to invest around ₹5 crore. Of this, the company has made first investment of ₹28 lakhs for procuring and commissioning of washing and extrusion line at its Chittoor plant. This investment has been made from internal accruals of the company.
Gravita Group is among top most recycling companies across the globe and installation of the new plant will help the company to further strengthen its position and will diversify the group’s business into plastic recycling. (RKS)
Fibre2Fashion News Desk – India