Sitara Chemical to Invest PKR 650 Mln, BoD Approves New Project

Karachi (Syed Rizwan Amir): Sitara Chemical announced a new project with the cost of PKR 650 million.

“The board of directors of the company has approved setting up a new project of Linear Alkyl Benzene Sulfonic Acid (LABSA) on European Technology having a production capacity of 30,000 metric tons per annum with an expected cost of PKR 650 million,” SITC said in a notification which is sent to the Pakistan Stock Exchange.

Today’s share price of Sitara Chemical Industries (STIC) was quoted PKR 273 per share.

According to PSX website: “Sitara Chemical Industries Limited was incorporated in Pakistan on September 08, 1981 as a public limited company under the Companies Act, 1913 (now the Companies Act, 2017). The Company is currently organized into two operating divisions and these divisions are Chemical Division (manufacturing of caustic soda and allied products) and Textile Division (manufacturing of yarn and fabric).”

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