By: ICN Bureau
Last updated : March 14, 2023 8:37 am
The total cost for site - 3+ will be in the range of Rs 60 -70 crore and this will be funded by internal accruals and funding from banks
Aether Industries Ltd has acquired and taken possession of New Industrial premises, located at GIDC Industrial Estate, Sachin, Surat in Gujarat.
The site is adjacent to the recently commercialized greenfield manufacturing Site - 3. The said site will be termed as manufacturing site - 3+, as the company will merge the same with manufacturing site - 3 for various regulatory approvals.
Trial runs for site - 3 have commenced and commercial production timeline which has been stated for month end will not be affected. The total cost for site - 3+ will be in teh range of Rs 60 -70 crore and this will be funded by internal accruals and funding from banks.
The company will manufacture 3 new products (specialty chemicals and intermediates), at this manufacturing site - 3+. These three products are developed in company's in-house R&D Centre. These products will be manufactured for the first time in India, like most of our products.