Standard Industries to enter into an arrangement with Peninsula Mega City Development

Standard Industries has received an approval for the proposed arrangement to be entered into with Peninsula Mega City Development in respect of development of approximately 62.25 acres of leasehold land at Village Ghansoli, Navi Mumbai. The company has received an approval at its board meeting held on June 16, 2011.

Standard Industries is into the business of textiles apparels and chemicals. The textile and apparel division is engaged in manufacturing cotton, polyester, yarn and other fabrics and mens and womens readymade garment clothing. The company’s textile division manufactures and markets caustic soda and potash, chlorine, hydrochloric acid, potassium carbonate, ethyle chloride and other chemicals.