Gravita India’s step down subsidiary Gravita Nicaragua S.A has started commercial production of recycling of PET Flakes (polyethylene terephthalate) by installing a modern ‘PET Hot Wash Line’ which is having annual capacity of 6000 MTPA. The production from said plant will cater the needs of Polyester Fiber Industries as well as needs of different Plastic Industries globally.
The Group has made investment of Rs 6.50 crore for procuring and commissioning of this New Modern Recycling Plant which is invested from internal accruals of the company. The company is expecting revenue of around Rs 53.00 crore coupled with gross margins of 30% from its different plants located at Central America Region.
Gravita is a public listed company and has carved a niche for itself, in the field of recycling in a very short span of time. It has 8 manufacturing setups in 6 countries.
