Godawari Power and Ispat board approves plan 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. PTI ABI ABI BAL BAL