Aarti Industries invest $6.49 mn in fertilizer facility in Jhagadia, India

Aarti Industries to invest $6.49 mn in fertilizer facility in Jhagadia, India

9:20 AM, 24th April 2013
Aarti Industries to invest $6.49 mn in fertilizer facility in Jhagadia, India

MUMBAI, INDIA: Aarti Industries Ltd, Mumbai-based diversified chemicals player, will set up a fertilizer manufacturing facility at Jhagadia in Bharuch district, Gujarat, India. The company intends to invest around Rs 35 crore ($6.49 million) towards the new facility. The new unit is expected to be commissioned by the end of the financial year 2013-14.

“This will be an expansion of our existing chemicals facility at Jhagadia. The new fertilisers facility will have the annual capacity of 200,000 tonne per annum of single super phosphate fertiliser. The company will invest around Rs 35 crore ($6.49 million) for the project and it will be met through internal accruals and debt,” said Rajendra Gogri, Chairman and Managing Director, Aarti Industries.

“We are looking at 20 per cent growth in our revenues. Most growth will come from hydrogenated products and agro chemicals and export of pharma products. Around 40-45 per cent of the company’s revenues come from export operations, mainly from the US, Europe and Asian markets,” added Gogri.

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