Godawari Power and Ispat Ltd (GPIL) has approved a proposal to set up an Opvc Pipes project at an investment of Rs 125 crore. The company also plans to acquire a 60% stake in RG Pigments, a non-ferrous metal recycling company.
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.
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