APN News

  • Wednesday, April, 2024| Today's Market | Current Time: 06:10:20
  • by NR INDRAN

    Mumbai : Gokul Refoils & Solvent Limited (GRSL), one of India’s leading edible oil companies in the FMCG sector today announced that the company has received government approval for enhancing the capacity of its upcoming lignite based thermal power plant from 80 MW to 125 MW.

    The Rs. 670 crore, the lignite based thermal power project is a joint venture between the Gokul Group and Gujarat Mineral Development Corporation (GMDC) in the equity ratio of 74:26. Slated to be set up at near Tadkeshwar district, Surat. The project will be funded by a combination of debt and equity in the proportion of 70:30.

    GMDC has committed 100% raw material supply (lignite and limestone) to the project which is a big advantage as other future power projects are restricted by lack of fuel supply because of current scarcity of domestic coal allocation. Gokul Refoils & Solvent limited and GMDC both would be beneficial in terms of cost savings as the captive user would derive power from the project at Rs.3.40 per unit as against the grid rate of Rs.5.50 per unit.

    Management Comment:

    Commenting on the development, Mr. Praveen Khandelwal, VP, Corporate Strategy, GRSL, said: “We are happy that the long pending approval for the project has come in. The commencement of the plant will ensure uninterrupted supply of power for our facilities and will be beneficial in terms of cost saving for both the parties ”

    Gokul Refoils and Solvent Limited (GRSL) is one of India’s leading FMCG Companies with international presence, dealing in edible oils such as Soya bean oil, Cottonseed oil, Palm oil (Palmolein), Mustard oil, Vanaspati and Industrial oils such as Castor Oil. It is an ISO 22000:2005 certified Company with a wide customer base spread globally. The company has set up offices in Singapore and Mauritius to facilitate its international trading operations and has an extensive marketing and distribution network for its popular brands ‘Gokul’ and ‘Zaika’ across 23 states in India. With a loyal customer base in various countries across continents, GRSL supplies products to United States, South Korea, European Union, China, Singapore, Indonesia, Malaysia and Vietnam. The company owns four production plants equipped with latest equipment and technology in the states of Gujarat and West Bengal in India.

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