Galaxy Surfactants plans alcohol project in Gujarat
- Publisher
- Elsevier Science
- Year
- 2010
- Weight
- 55 KB
- Volume
- 2010
- Category
- Article
- ISSN
- 1351-4210
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✦ Synopsis
Galaxy Surfactants will start a project at GIDC Jhagadia in the Bharuch district of Gujarat, India, for an investment of Rup 653 M (€10.6 M). The project includes an ethoxylated tertiary lauryl alcohol unit with capacity of 37,000 tonnes/y, an 8000 tonnes/y 2-phenoxy ethanol lauryl alcohol unit, and an 8000 tonnes/y 2phenoxy ethanol unit. The company has also filed for regulatory approval to initiate a public offering of its 5.9 M shares. The accrued capital will be used to expand its subsidiary GC Egypt and to set up the new manufacturing unit in Gujarat besides increasing its existing plant capacity. The company posted a net profit of Rup 378.8 M (€6.2 M) on total income of Rup 6.5 bn for the year ended Mar 2010.