Borosil Renewables announced an expansion of 50% of its present capacity in manufacturing of solar glass, a critical component in the manufacturing of Photo Voltaic solar panels. The expansion plans, which had been put on hold, are now back on track, after receiving the approval from the Company's Board of Directors on 18 December 2024, on the basis of announcement of a Reference Price for imports, by Ministry of Finance vide its notification dated 04 December 2024, which will act against Cheap and dumped imports from China and Vietnam. With this expansion, the manufacturing capacity of the Company will increase from 1000 tons per day to 1500 tons per day.
The Reference price (US$ 673~677 for imports from China works out to a price of Rs 143 per mm/square meter at the Container Yard), and will act as a minimum threshold for import prices from China.
The institution of a Reference Price for imported glass will enable Borosil Renewables to return back to better margins which will support its expansion plans.
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