State-owned Gujarat State Fertilizers and Chemicals Ltd (GSFC) is planning to set up a petrochemical complex at Dahej with an estimated investment of Rs 8,000 crore to Rs 10,000 crore, the company informed the Bombay Stock Exchange (BSE) on Thursday.
The status of the petrochemical complex at present is at the feasibility study/detailed project report (DPR) stage as well as search or selection of technology suppliers, the Vadodara-based company further stated in its intimation to the exchange.
The company is already setting up 40,000 million tonnes per annum (MTPA) melamine project at its Vadodara complex, for which GSFC has signed for technology tie up and contract for supply of know-how, basic engineering and proprietary equipment with Casale, Switzerland on February 5, 2015. The project is slated to be implemented on fast track basis and is planned to be operational in the second quarter of 2017-18.
Further, the company's 15,000 MTPA nylon 6 plant and 20,000 MTPA water soluble fertiliser plants at Vadodara Complex are also likely to go into main stream soon.
The company's standalone net profit for fourth quarter ended March 31, 2015 fell by 51.89% to Rs 64.50 crore as compared to Rs 134.09 crore for the said period last year.
Shares of GSFC on Thursday closed at Rs 75.35 per share, up 0.27% from previous close of Rs 75.15 apiece.
