At meeting held on 18 June 2020
Gujarat State Fertilizers & Chemicals announced that the Board of Directors of the company at its meeting held on 18 June 2020 has decided to discontinue manufacturing operations of its Fibre Unit situated at Kosamba, Dist: Surat - 394 120 and Polymers Unit situated at Nandesari, Dist: Vadodara - 391 346.The Company is planning to set up new Project at its Polymers Unit by appointing Consultant. For its Fibre Unit, the Company is evaluating various options to utilize existing land and infrastructure facilities available there at including development of logistic park or suitable project for which Consultant is being appointed. However, the final decision will be taken after report of Consultant.
The closure does not have any adverse effect on operations of the Company as the total contribution of these units in total margin of t he company is negligible.
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