Updates on Capex: Source
HGCL is under-going a capacity expansion project at an estimated cost of Rs.40.41 crore. The proposed plant will be in Dhule, Maharashtra having installed capacity of recycling 100MT of waste tyres/day. The project is expected to commence operations from May/June 2024. The project cost is funded through issue of equity shares, internal accruals, and term loan from bank. Till February 2024, HGCL has incurred ~Rs.30 crore in the project. With 25% of costs yet to be incurred, there exist project implementation and stabilization risk.
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