Captain Pipes Limited's board of directors met and authorised a plan to build a greenfield factory near Ahmedabad for a total investment of Rs 25 crore.

The proposed factory will have a capacity of 20,000 MT, doubling total production capacity over the current level.

The plant's commercial production is planned to begin before the end of 2024. The corporation has selected the property on which to build this factory, and the purchase will be completed soon.

The funds from internal accruals and bank borrowing will be used to invest in the new factory.

Commenting on the expansion plan, the Management added,"We are thrilled to announce the approval of our ambitious plan to establish a state-of-the-art greenfield plant near Ahmedabad, representing a significant milestone in our growth journey. Our commitment to innovation and expansion is evident, as we look forward to commencing commercial production at this new facility by the end of 2024. This investment aligns with our vision for sustainable growth and underscores our dedication to delivering high-quality products to our valued customers. We are confident that this endeavor will further solidify Captain Pipes Ltd.'s position as a leader in the PVC pipes industry."