At Shahjahanpur manufacturing facility in Rajasthan
Vikas EcoTech's newly commissioned Polypropylene manufacturing plant was destroyed in a fire that engulfed this particular section at company's Shahjahanpur manufacturing facility in Rajasthan. The damage was limited to only one building that housed the polypropylene section and a material warehouse. The company's four other manufacturing units situated in the same factory complex are safe and fully operational. No human casualties were reported and all company's employees are safe. The polypropylene unit was expected to contribute around 3% to company's annual sale in FY 2017-18. It would take a minimum of 4 months to restore full production of this unit. According to initial estimates, the total damage to the Factory building, Machinery, WIP, Raw material and Finished goods stock could be around Rs 15-20 crore. The building, machinery and stocks destroyed were fully insured.Powered by Capital Market - Live News
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