Godawari Power to Set Up Opvc Pipes Project

New Delhi, Nov 5 (PTI) Godawari Power and Ispat Ltd (GPIL) on Wednesday said its board has approved a proposal to set up an Opvc Pipes at an investment of Rs 125 crore.

The board also approved a proposal to acquire up to 60 per cent equity stake in RG Pigments Private Limited (RGP) for a consideration of Rs 56.75 crore, the company said in an exchange filing.

RGP is engaged in the business of recycling non-ferrous metals industrial waste, it said.

"The board approved a proposal to manufacture Opvc Pipes, by setting up a separate Unit. Opvc pipes are replacement of Ductile Iron Pipes, which are cost-effective and the demand for which is going up," it said.

The cost for the Opvc project will be Rs 125 crore, including working capital margin, the company said.