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    Gujarat Alkalies says JV with Nalco to be ready by April 2020; plants operating at 90% capacities

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    Gujarat Alkalies says JV with Nalco to be ready by April 2020; plants operating at 90% capacities

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    Gujarat Alkalies and Chemicals on Monday said the company's joint venture with National Aluminium Company (Nalco) will be ready by April 2020, after posting very strong earnings in Q1.

    Gujarat Alkalies and Chemicals on Monday said the company's joint venture with National Aluminium Company (Nalco) will be ready by April 2020, after posting very strong earnings in Q1.
    In an interview to CNBC-TV18, PK Gera, managing director, said that on all fronts, the business is doing well and the plants are working at 90 percent capacities.
    Gera said the higher revenues were possible due to better caustic realisations, "The caustic prices currently stood at Rs 35,000 per tonne and that of caustic group were around Rs 40, 000 per tonne."
    Going forward, Gera expect the prices to remain at similar levels as the trend for caustic prices is downward, but not very significantly.
    Also, Gujarat Alkalies and Chemicals has invested Rs 1,000 crore in fifth generation elements.
    According to Gera, Gujarat Alkalies and Chemicals is a debt free company, but can expect some external commercial borrowings (ECB) for projects.
    However, as an exporter, Gujarat Alkalies and Chemicals  is able to service the debt through earnings from exports, and so do require to take hedges, Gera said.
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