ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Allied Fibres

EPW Research Foundation Ganesh Benzoplast GANESH BENZOPLAST (GBL), the flagship company of the Ganesh Group, is engaged in the manufacture of industrial chemicals, viz, benzoate plasticisers, benzoic acid and sodium benzoate. GBL has set up a plant in Tarapur, Maharashtra. As a major diversification from plasticisers, sodium benzoate and benzoic acid, the company initiated a project for setting up liquid chemicals storage facilities of 30,000 kilo Iitres at the Jawaharlal Nehru Port at Nhava Sheva near Bombay for Class 'B' chemicals involving a capital outlay of Rs 894 lakh. Chemical industries in Bombay provide a market for these chemicals which is met by imports stored at these ports. The liberalised import policy provides tremendous potential for liquid petrochemicals, kerosene, etc. Keeping this in view, the company has decided to increase the chemical storage facility from 30,000 kl to 70,000 kl. The expansion requires Rs 1,365 lakh which has been financed by placement of shares with FIls to the extent of Rs 453.15 lakh and the balance by placement of shares with corporate bodies on preferential basis. Another project involves setting up of manufacturing facilities for refined iodised salt with an installed capacity of 3,60,000 tpa and other products, viz, bromine (300 tpa), isopropyl bromide (100 tpa) and magnesium chloride (15,000 tpa). The project has been appraised by Canara Bank and the total estimated cost is Rs 19,800 lakh. To part finance this the company is coming out with a public issue of 36,72,800, 14 per cent secured fully convertible debentures (FCDs) of Rs 210 per cent secured FCDs of Rs 210 at a

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