Nimir Industrial Chemicals Limited will expand its operations by establishing a new production facility for Rs. 1.25 billion.
This development will be a backward integration to the company’s state-of-the-art aerosol filling plant.
According to the stock filing, the Board of Directors of Nimir Industrial Chemicals Limited (NICL) has approved an expansion plan with a required capital investment of Rs. 1.250 billion for the setting up of a production facility to manufacture various types of aluminum cans for aerosol products.
It also approved an investment of Rs. 190 million for the installation of the Sulphate Removal System at the Chlor Alkali Plant to reduce the operating cost.
NICL is located in Sheikhapura with offices in Karachi and Lahore. It produces industrial chemicals such caustic soda, sodium hypochlorite, hydrochloric acid, soap, and bleach.
The company posted a profit of Rs. 926 million in the outgoing financial year, which increased from Rs. 810 million in the previous year. Its profit stood at Rs. 510 million in 2015, which showed its consistent and profitable growth backed by the production and consumption of its products in the local market.