Yasho Industries has declared a capital expenditure of Rs 350 Crores for Phase 1 of its greenfield project at Pakhajan, Gujarat. The board has approved the investment for Phase 1 to manufacture lubricant additives and rubber chemicals with a capacity of 15,500 million tonnes per annum (MTPA), the company said in a statement.

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“The total manufacturing capacity will expand from 11,000 MTPA to 26,500 MTPA with a revenue of Rs 500 to 550 Crores,” it added. The project will finish in 24 months after receiving all the required government approvals. The capital expenditure towards the project will be financed via a combination of internal accruals and debt.