Gravita India's step down subsidiary in Ghana commences commercial production of lead from new plant

Gravita India announced that its step down subsidiary, Recycler Ghana, situated in Ghana, West Africa has started commercial production of Lead from its new plant having an capacity of around 6000 MTPA.

The company has plans to increase the capacity of said plant by adding further capacity of 6000 MTPA which is expected to be completed by July 2019 and after that addition the overall capacity of said plant will be 12000 MTPA.

The Group has decided to make investment of approx. Rs. 21 crore for establishment of this New Recycling Plant having capacity of 12000 MTPA out of which approx Rs. 18 crore has already been invested from internal accruals of the company.

The production from the Ghana plant will provide strategic advantage to the company to cater to the European and US Market. This plant will help the company to save the logistics cost which will reduce the working capita l cycle of the company resu lting in better margins.

The Company is expecting revenue of approx. Rs. 110 crore from this Lead Recycling Plant during F.Y. 2019-20.

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