Sitara Chemical Industries Limited informed Pakistan Stock Exchange that the Board of Directors of the Company in their meeting held on June 22, 2020 has approved setting up a new project of Linear Alkyl Benzene Sulfonic Acid (LABSA) on European Technology having production capacity of 30,000 metric tons per annum with an expected project cost of Rs. 650 Million.

The announcement is available at:

https://dps.psx.com.pk/download/document/149184.pdf

Sitara Chemical Industries Limited is a company incorporated in Pakistan on September 8, 1981. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activities of the Company are operation of Chlor Alkali plant and yarn spinning unit. The Company is currently organized into two operating divisions and these divisions are the basis on which the Company reports its primary segment information. Principal business activities are Chemical Division Manufacturing of caustic soda and allied products and Textile Division Manufacturing of yarn and fabric. The manufacturing facilities are located at Faisalabad in the province of Punjab. The shares of the company are quoted on Karachi, Islamabad and Lahore Stock Exchanges of Pakistan. The registered office of the company is situated at Karachi.

The symbol "SITC" is being used by the stock exchange for the shares of Sitara Chemical Industries Limited.

© Pakistan Press International, source Asianet-Pakistan