Recyclers Ghana Limited, a subsidiary of India based recycling company, Gravita Group is enhancing production capacity of its existing annual lead recycling plant in Ghana from 12,000mt to 16,200mt, according to an official statement issued by the company today.
The recycling company has also announced an additional investment of Rs100mn along with Rs300mn already invested in the expansion of the plant.
The company is expecting the expansion of the subsidiary to generate a revenue contribution of Rs2bn along the gross margin of 15pc in the current financial year.
Additionally, the company has also established a new unit in Mundra, Gujarat, as demand have increased domestically.
The India -based recycling firm further expects an increase in business in the international market owing to these expansions, which the company is hoping will lead to higher margins.