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Indo Gulf Industries Ltd.

BSE: 506945 Sector: Industrials
NSE: N.A. ISIN Code: INE684U01011
BSE 05:30 | 01 Jan Indo Gulf Industries Ltd
NSE 05:30 | 01 Jan Indo Gulf Industries Ltd

Indo Gulf Industries Ltd. (INDOGULFINDS) - Company History

Incorporated in Mar.'81 as Indo Gulf Explosives Indo Gulf Industries got its present name in 1994. It was promoted as a joint venture between PICUP UPSIDC and three other entrepreneurs -- Dr S K Garg B K Agarwal and M K Garg.The company manufactures industrial explosives and accessories with manufacturing facilities at Jhansi Korba Singrauli Talcher and Ib Valley. Its products include slurry mixed explosives detonator fuses and cast boosters. The explosives are used in open-cast mines mostly by coal mines. The company entered into a technical collaboration with Trans Ocean Gulf Oil US to manufacture explosives. In Feb.'95 the company came out with an issue of fully convertible debentures to part-finance setting up a 2500-tcd sugar plant (expandable to 3500 tcd) to manufacture white crystal sugar at Meizapur Gonda district with the co-generation of 6 MW of power.The entire quantity of molasses will be sold to various distilleries to manufacture potable and industrial alcohol. Bagasse will be used for the co-generation of power.Sugar plant commercial production started during March 1996. The companyhas also planned to expand its operation by increasing the number ofsupply points for bulk loading explosives with addition of another bulkloading unit at Mahakurla village in Chanderpur district. The plants tosupply emulsion explosives manufactured in technical collaborationwith Gulf Oil Corporation are being set up at Gobarghora in Korba and Jayant in Singrauli. The company would continue to supply explosivesfrom the bulk loading units at these sites.The company is planning to set-up a new packaged Explosive Unit in Bendrachuan village on Madya Pradesh to meet the supply of catridge explosives and accessories to various mines of Coal India Ltd in that area.The Emulsion Plant at Korba has been commissioned during the year 1999-2000.