GSCL to expand capacity

Kolkata, Nov 16 (UNI) Gulshan Sugars and Chemicals Limited will set up a 20,000-tonne Ground Calcium Carbonate unit in its existing facility at Muzaffarnagar in Uttar Pradesh to augment its capacity to meet the growing demand.

GSCL, which is one of the largest producers of Calcium Carbonate in the organised sector in the country, will have a total capacity of 90,000 tonnes next year, its Managing Director C K Jain today said.

In addition, the company would set up a three MW captive power plant at Muzaffarnagar.

"This will enable us to produce special grade of GCC which finds exclusive application in paper and PVC industry," he said.

The MD said the technology for the production of GCC was proposed to be procured from IVA Industrieberatung GmbH, Germany.

GSCL produces 19 different grades of Calcium Carbonate as its product has multiple end-uses with applications across varied industries, including tooth paste and tooth powder, printing inks, paper, pharmaceuticals, paints and coatings, plastics, PVC and cosmetics.

To part finance the project, GSCL enters the capital market with its follow-on public issue of 66,00,000 equity shares of Rs. eight each at a premium of Rs. 32 per share to mop up Rs. 26.40 crore.

Part of the funds would also be utilised to meet the long-term working capital requirements of the company and for general corporate purposes.

The issue opens on November 22 and closes on November 28.

UNI KDG PL RN1624