Borosil Renewables recently announced that its board has sanctioned a modified expansion strategy aimed at enhancing production capacity by 600 tonnes per day, with an estimated investment of ₹950 crore. The company, which operates a production facility in Bharuch, Gujarat, currently has a capacity of 1000 tonnes per day (TPD), and this decision has been made in expectation of favourable market conditions following the government’s anti-dumping initiatives.
The Board of Directors has sanctioned the updated expansion plan of 600 TPD, as said by the company in a statement. The expansion is being executed by establishing two furnaces, each with a capacity of 300 TPD, at an estimated investment of ₹950 crore. The original projected investment was ₹675 crore for a capacity of 500 TPD.
The projects will be funded through a combination of equity, debt, and/or internal accruals, or by utilising any or all of these financing methods as deemed suitable by the management. On the rationale behind the move, the company explained that the government’s decision to impose a five-year anti-dumping duty on the import of solar glass from China and Vietnam, starting December 4, 2024, aims to create a fair competitive environment for domestic manufacturers.
This policy measure is expected to promote swift and substantial expansion in the domestic production of solar glass, as stated. “Given the positive market conditions and projected growth in demand, the company has proposed expanding its production capacity. This growth is projected to drive higher production volumes and increased sales,” according to the statement.
