Gujarat State Fertilizers & Chemicals standalone net profit declines 50.42% in the December 2018 quarter
Gujarat State Fertilizers & Chemicals standalone net profit rises 183.04% in the September 2018 quarter
Gujarat State Fertilisers and Chemicals (GSFC) has received green nod for expansion of its fertiliser unit in the state that will entail an investment of about Rs 8.75 crore, according to an official document.
The state-owned firm has proposed adding an ammonium sulphate production unit with a capacity of 1,46,000 tonnes per annum at Fertiliser Nagar in Vadodara district.
The GSFC's proposal was first vetted by a green panel Expert Advisory Committee (EAC) constituted by the union environment ministry. Based on its recommendation, it gave environment clearance (EC) to the project.
The proposed expansion will cost about Rs 8.75 crore and is likely to provide employment to 70 people directly and indirectly, as per the EC certificate despatched to the GSFC.
The green nod to the project is subject to compliance to certain conditions.
The shares of GSFC were trading down 2.89 per cent at Rs 99.30 apiece on the BSE.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)