Insecticides to complete the projects of phase-II by end of the next fisccal

Insecticides India has informed that phase-II of its expansion projects will be completed by end of the next financial year.

The delay in the completion of the project is due to social disturbances in months of June to September 2008 in Jammu & Kashmir, because of which the construction of project in Udhampur, cannot be completed in the projected time.

This apart, the project at Dahej, Gujarat has been delayed is due to environmental clearance, because of which the project can not be started.

The company has further stated that Phase-II project in Udhampur, whose projected time of completion was June 2008 as per the IPO prospectus, is expected to be completed by October 2009. The phase-II project in Dahej, whose projected time was November, 2008 is expected to be completed by March, 2010 while the project of Phase-II Research & Development facility on the projects with projected time of August, 2008 is expected to be completed by March, 2010.