Nimir Industrial Chemicals Limited informed Pakistan Stock Exchange that in continuation of the previous announcement dated September 25, 2018, the Board of Directors of the Company in its meeting held on April 24, 2020, has approved capital investment of PKR 1.6 billion to expand the capacity of the Caustic Soda plant to 120 tons per day (TPD). This was earlier approved to be expanded to 50 TPD. This decision has been taken to yield full advantage of the basic plant infrastructure, which is already available to cater for the expansion, as well as to leverage NICL's marketing excellence.

The announcement is available at:

https://dps.psx.com.pk/download/document/146518.pdf

Nimir Industrial Chemicals Limited, previously known as Ravi Alkalis Limited and owned by a local business family was incorporated in Pakistan on February 6, 1994. The foundations of the company are laid under the Companies Ordinance, 1984. Nimir Chemicals Company Limited, a Bermuda registered company, took over the management of the company in 1997 and consequently the name of the company was changed to Nimir Industrial Chemicals Limited in March 1998. The commercial operations of the company started from January 1, 2000. The principal activity of the company is manufacturing and sale of industrial chemical products. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges. The registered office of the company is located in Faisalabad.

The symbol "NICL" is being used by the stock exchanges for the shares of Nimir Industrial Chemicals Limited.

© Pakistan Press International, source Asianet-Pakistan