NOCIL has received an approval for capital expenditure proposal of Rs 168 crore - Phase 2 for expansion of its production facilities for Rubber Chemicals (including intermediates captively consumed towards manufacture of rubber chemicals) at Dahej / Navi Mumbai. The board of directors at its meeting held on December 20, 2017 approved for the same.
The said investment is expected to maintain the asset turnover ratio of 2:1. The said capex is expected to be completed during Q1 FY 2019-20. The significant portion of capex will be financed through internal accruals.
The expansion with investment of Rs 170 crore (Phase 1) has been already announced by the company in March 17 and it is progressing well. The said expanded facilities are expected to commence commercial production latest by Q3 FY 2018-19.
NOCIL is an India-based company, which offers basic organic chemicals. The company is engaged in the business of manufacturing and trading of rubber chemicals.