Indo Rama Synthetics India Ltd informed that it has organized a board meeting on November 30, 2006 to mull over the decision of combining itself with Indo Rama Petrochemicals Ltd, which will reduce costs.
The petrochemical unit has been constructing a 30 megawatt captive power plant for the company.
This textile company conducted an internal analysis and discovered that the move will enable it to save about Rs130-Rs140 million annually on investment, sales tax, service tax and value-added tax.
Company has its head office in New Delhi. It achieved a turnover of more than Rs518 million in 2005-06 on total sales of Rs18.7 billion.
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