Nimir Industries to invest Rs 1.6 billion for expansion of its Caustic Soda plant

By MG News | April 24, 2020 at 02:06 PM GMT+05:00

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April 24, 2020 (MLN): The Board of Directors of Nimir Industries, in its meeting held on April 24, 2020, has approved capital investment of Rs. 1.6 billion to expand the capacity of the Caustic Soda plant to 120 tons per day (TPD).

This was earlier approved to be expanded to 50 TPD. This decision has been taken to yield full advantage of the basic plant infrastructure, which is already available to cater for the expansion, as well as to leverage NICL’s marketing excellence.

Besides the above announcement, the Board also declared the financial results for the nine months ended March 31, 2020, as per which, the company’s net profit amounted to Rs. 703 million (EPS: Rs. 5.8), which is higher as compared to the profits of Rs. 696 million (EPS: Rs. 1.37) reported in the same period of last year.

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