Rashtriya Chemicals and Fertilizers (RCF) is trading higher by 3% at Rs 50.90 in an otherwise weak market after the company said it plans to expand the capacity of urea at its Thal unit in Maharashtra with an investment of Rs 4,000 crore.
“The company would set up one single stream ammonia plant with a capacity of 2,200 tonnes per day, and one single stream urea plant of capacity 3,850 tonnes per day at the existing site,” RCF said in a filing.
The selection process for lumpsum turnkey contractors (LSTK) for main plants has been completed. The project cost is expected to be Rs 4,000 crore and will be completed in 36 months period from the zero date, it added.
The stock opened at Rs 49.90 and touched high of Rs 51.50 on the BSE. A combined 371,421 shares have changed hands on the counter in morning trades.