Shares of SRF gained 2.5 percent in the early trade on Tuesday as company announces setting up of a polyester film and resin plant in Thailand.
The organization is setting up of a second bi-axially oriented polyethylene terephthalate (BOPET) film line and a resin plant in Thailand at a massive funding of roughly USD 60 million.
This new plant will be set up at organization’s current assembling area in Rayong, Thailand by its wholly owned subsidiary – SRF Industries (Thailand) and is is believed to be functional and operational in nearly two years, organization said in a press release.
Once operational, the new line will be fit for creating roughly 40,000 metric tons for every annum, it included.
With this limit expansion, the organization will additionally reinforce its essence in the light South East Asian area and grow its client base in new topographies.