Salvo Chemical Industry has decided to 'restructure' its extended project for 'Zinc Sulphate Plant' to produce 'Liquid Glucose' product.
The decision was taken by the company's board of directors, according to a disclosure posted on the website of Dhaka Stock Exchange (DSE).
"The company changed its plan to produce Zinc Sulphate because the plant couldn't come to a cost-effective position and unsuccessful trail production," the company said.
It also said the existing plant and machinery of Zinc Sulphate shall be shifted, modified, added new machinery and be assembled to set-up a plant for producing 'Liquid Glucose'.
"However, the management of the company assumes that the expected project will be completed within 2 to 3 months and the production capacity will be 28 metric tonnes per day," Salvo Chemical Industry said.
The product 'Liquid Glucose' is used as a raw material for food industry & pharmaceuticals industry.
Salvo Chemical Industry, presently a 'B' category company, was listed with the stock exchanges in 2011.
The company's sponsor-directors hold 22.14 per cent shares while institutions 12.16 per cent and general public 65.70 per cent.
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