Trident has received a green nod or environment clearance for expansion of its paper mill with improved and enhanced technology and energy efficiency in Barnala district of Punjab, entailing a cost of Rs.440 cr.
The company has proposed upgradation of paper machines to enhance production of paper from 1,35,000 TPA - tonnes per annum to 2,10,000 TPA and enhance captive co-generation plant to 90.9 MW from 45.9 MW.
A senior government official said that based on the recommendations of the EAC - Expert Appraisal Committee, the Environment Ministry has given a green nod to the Trident Limited for its paper mill expansion project. The official added that the clearance to the project had been given subject to certain conditions.
The project’s cost is estimated to be Rs.440 cr. No additional land would be needed and the company is likely to employ a hundred people. Besides, Trident, which was established in 1993, has both a textile mill and a sulphuric acid plant. The Trident group is a 1 billion US dollars enterprise with an employee count of over 10,000 and offers indirect employment to 20,000 people.
Meanwhile, Trident share price was trading 4.96 per cent higher at Rs.59.25 on NSE today. The stock opened at Rs.57.65 from a previous closing of Rs.56.45. As of now, a total of 67,74,623 shares have exchanged hands on the NSE counter.
Trident at a glance:
Trident Limited, incorporated in 1990, continues to grow under the dynamic leadership of Mr. Rajinder Gupta, the chairman, a first generation entrepreneur. With a humble beginning of 17,280 spindles of yarns, the company today exports to more than 100 countries emerging as one of the biggest integrated home textile manufacturer across the globe.
To acquire information on the fundamentals, financials, and support and resistance levels of the stock, please visit Trident share price history.
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