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Pincon Spirit will set up two new plants in West Bengal at a total cost of about Rs 50 crore.
The company’s board has approved “setting up of a rice bran oil refinery and solvent extract automated plant at Dankuni Industrial area, West Bengal, at a tentative cost of Rs 30 crore,” Pincon Spirit said in a BSE filing.
It will have a production capacity of 200 mt per day. Of the total production, 50 per cent will be for captive use of Pincon rice bran oil brand sales across India, while the rest will be for bulk supplies to corporate buyers.
The board has also approved setting up of a polythylene terephthalate bottle (PET) manufacturing plant at Asansol with a tentative cost of Rs 20 crore.
The Asansol plant will have a production capacity of 10 lakh bottles per day and will be used for the company’s captive use.
The stock was trading at Rs 67.35, up 0.82 per cent, on the BSE
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