Company news: SRF

The board of SRF has approved setting up of a BOPET film line & resin plant in Thailand by SRF Industries (Thailand) Ltd (wholly-owned subsidiary) at a total cost of $60 million (about ₹410 crore). The proposed capacity addition is 40,000 tpa, while the existing capacity is 28,500 tpa, and SRF is operating at 100 per cent capacity utilisation. The company expects the proposed capacity expansion to be completed before September 30, 2020, and to meet its finance needs through a mix of internal accruals and borrowings. This capacity add will further strengthen its presence in the buoyant South East Asian region and expand its customer base in new geographies, the company said. Shares of SRF jumped 5 per cent at ₹1,726.90 on the NSE.