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IFGL Refractories to infuse Rs 70 cr in three manufacturing plants by FY23

Friday, 20 Aug 2021

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IFGL Refractories will make an investment of Rs 70 crore by FY23 in three manufacturing plants to enhance capacity and productivity.

The ongoing capex will boost its performance in both profitability and revenue. It has acquired 10 acre of land in Visakhapatnam for manufacturing of new products including monolithics and precast shapes.

The Kandla expansion and debottlenecking of Odisha units will entail an investment of Rs 10 crore each.

Phase-I of the Vizag project worth Rs 30 crore is expected to be completed in Q2/FY22, while Phase-II is expected to be completed by Q2/FY23 where Rs 20 crore will be pumped in. The Kandla and Odishacapex will also be completed by FY23.