Gravita commenced commercial production of Lead metal from its new recycling plant situated at Chittoor, Andhra Pradeh. This plant is having production capacity of 12000 MTPA and will grab the opportunity of domestic scrap available with the large telecom players, UPS batteries from I.T. offices in and around southern markets by having long term contracts to collect their PAN India scrap in cost effective manner and by exporting the finished goods using the nearest Chennai port, being near to the port will help in reducing cost.
The projected cost for the said plant is approx. Rs. 25.00 crores for which approx.. Rs. 15.46 Crores is funded by way to secured Term Loan from Punjab National Bank and balance rom internal accruals of the Company.
This plant will help the company to further strengthen its presence in Southern market and exports in Far East Markets.