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Gravita's step down subsidiary starts production of Aluminum Cast Alloys in Tanzania

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Gravita India announced that its step down subsidiary, Gravita Tanzania situated in in Tanzania, Africa has started commercial production of Aluminum Cast Alloys from its new plant having an capacity of around 6000 MTPA.

The Group has made an investment of approx. Rs. 6 crore for establishment of this New Recycling Plant having capacity of 6000 MTPA from internal accruals of the company.

Gravita Tanzania Limited is already having a Lead Recycling unit in Tanzania and this Aluminum recycling plant will diversify the product portfolio of the company which will result in better profitability and will cater the needs of Aluminum die casting industries located in Europe and Asian Continent.

The Company is expecting revenue of approx.

Rs. 20 crore along with Gross Margin of around 15% from this Aluminum Recycling Plant during F. Y. 2019-20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 11 2019. 18:12 IST