Grasim Industries Limited on Monday along with Lubrizol Manufacturing India Private Limited reaffirmed that the construction of the first phase of the world’s largest single-site state-of-the-art 100,000 metric tonne Chlorinated Polyvinyl Chloride (CPVC) resin facility in Vilayat, Gujarat, will commence in later part of the year 2023, through an exchange filing.
The company in the regulatory filing said, "The project implementation plan is under finalisation, and we will share the further developments including commissioning timelines in due course."
Grasim and Lubrizol on October 30, 2020 had signed a definitive agreement for setting up a plant to manufacture and supply of 100,000 metric tonnes of CPVC resin in India. The first phase of the plant was planned to commence production last year, however, the unprecedented global COVID outbreak and its consequences, such as supply chain disruptions, prevented project work from starting.
Grasim Industries shares
The shares of Grasim Industries on Monday at 10:04 am IST were at Rs 1,784.95, up by 0.24 per cent.