Board of Alicon Castalloy approves capex of Rs 125 cr for setting up new plant

Alicon Castalloy announced that the Board of Directors of the Company has decided to set-up a new plant for GDC (Gravity Die Castings), LPDC (Low Pressure Die casting) and Machining with a capital outlay of Rs.125.5 crore. For the purpose, the Company has acquired on 10 years' lease ready built industrial premises admeasuring 1,30,000 sq. feet, situated near its existing facilities at Shikrapur, District Pune, Maharashtra, from Vijay Logistics.