Sunday, June 16, 2024

Capacity expansion at Mundra plant of Gravita

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Jaipur (Rajasthan) [India], April 21:  Gravita India Limited (“Gravita” or the “Company) a leading “Recycling Company” having its manufacturing presence around the globe, hereby informs that company has increased capacity of its existing recycling unit situated at Mundra, Gujarat (“Facility”). The existing capacity of said unit for Lead recycling has been increased by 40,500 MTPA and as on date the total capacity of this unit for Lead recycling is 60,000 MTPA. Apart from this company has also started commercial production of Red Lead and Plastic Granules with a capacity of 4,800 MTPA and 7,500 MTPA respectively.

This expansion in Lead Recycling includes shifting of existing facility of the company situated in Gandhidham, Gujarat which is 19,500 MTPA.

Gravita is expecting an increase in share of higher-margin business from the key overseas market across Lead, Red Lead and Plastic recycling segments. The facility’s closer proximity to the port will increase operational efficiency as import of scrap and export of finished goods will be carried out using the same port. This will result in optimization of logistics cost coupled with reduction in working capital cycle of the company. Overall, the facility is well positioned to cater to the growing demand from overseas market and with higher operational efficiency it is expected to further enhance profitability of the company.

This flagship unit of Gravita Group is strategically located at the Mundra and is equipped with state-of-the-art facility facilities including latest technology and automated processes. 

The investment in the said capacity expansion and new capacity installation is approx. 31 Cr out of which for which Rs. 14 Cr has been funded through external borrowings and remaining by internal accruals of the company. 

Gravita is a leading global recycling company with 11 eco-conscious state-of-the-art manufacturing facilities across the globe with a capacity of 2,51,419 MTPA. The Group has global footprint in 70+ countries having recycling DNA of 30+ years with 5 business verticals. The company is amongst the top 1000 listed companies on NSE and BSE Ltd.

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

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