SRF board approves Rs. 510 crore Capex
Chemical

SRF board approves Rs. 510 crore Capex

The board has approved facility to produce agrochemical intermediate at Dahej and Capacitor Grade BOPP Film at Indore

  • By ICN Bureau | October 28, 2023

The Board of Directors of SRF Limited at its meeting held on October 27, 2023 has approved two projects with Capex worth Rs. 510 crore.

The Board has approved a project for setting up of a new facility to produce agrochemical intermediate at Dahej at a project cost of Rs. 235 crore. The proposed capacity for agrochemical intermediate is around 600 MTPA and it would be operational in 10 months time frame. The mode of financing is a mix of debt and internal accruals and will cater to the needs of the customers.

The Board of Directors has approved projects for setting up a manufacturing facility for Capacitor Grade BOPP Film at Indore at a projected cost of Rs. 275 crores. The proposed capacity will be 4,500 MTPA and it would be operational in 31 months time frame. The mode of financing is a mix of debt and internal accruals and it will explore expansion in business adjacencies.

In continuation of the company letters dated 5th August, 2019 and 30th July, 2020 intimating a capital expenditure for setting up of an integrated facility for development of PTFE at an estimated cost of Rs. 424 crores, the said project has been commissioned and capitalized at an aggregate cost of Rs. 489 crores (approximately).

The cost over-run is due to increase in civil and preoperative expenses and delays caused in obtaining support from the technology partner due to COVID imposed restrictions.

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