NOCIL has received in-principle approval for capital expenditure proposal of Rs 87 crore - Phase 3 for expansion of its production facilities for Rubber Chemicals at Navi Mumbai/ Dahej. The said investment is expected to maintain the asset turnover ratio of 2:1. The said capex is expected to be completed during H1 FY 2019-20. The Board of Directors of the company at its meeting held on January 31, 2018, approved the same.
Significant portion of CAPEX will be financed through internal accruals.
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.
