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| Exchange Received Time 02/07/2018 17:01:55 Exchange Disseminated Time 02/07/2018 17:01:58 Time Taken 00:00:03 | In terms of regulation 30 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations 2015, we hereby inform that GSFC has signed a License Agreement with Mitsui Chemicals Incorporation (MCI) for establishing a Methyl Metha Acrylate (MMA) plant of 64800 MTPA Capacity. As the first step towards this project, MCI will develop the Process Design Package which will enable GSFC to establish the plant.
It is further informed that this is a critical step forward for the Company as this will enhance its current product line of Industrial Products. Currently, the complete requirement of India for MAA is met through imports and on establishment of this plant nearly 80% of Indian Demand will be met through the domestic production which is again a step forward ahead towards 'Make in India' mission initiated by the honorable Prime Minister, Shri Narendra Modi.
Kindly take note of the above.
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