Jayshree Chemicals (Ganjam) on expansion mode

BERHAMPUR: Jayshree Chemicals Limited, owned by the Karnataka-based SK Bangur Group, will invest around Rs 150 crore on expansion and modernisation of its caustic soda plant located near Ganjam town in south Orissa. The expansion programme is scheduled for commissioning by October 2010. The Company is planning to float a rights issue in the ratio 9:2 to raise funds to part finance the company's expansion project. A company spokesperson said the issue would be made available to the existing shareholders. Jayshree would issue 2,39,94,374 equity shares at a face value of Rs 10 each and at a premium of Rs five. The spokesperson said the company is in the process of doubling the capacity incorporating state-of-the-art membrane cell technology involving a cost of Rs 150 crore at its existing plant at Ganjam in Orissa.

Sources: Business Standard, Business Line & http://ganjam.ppcp.in/home.htm