March 20, 2017 / 8:29 AM / 4 months ago

BRIEF-Bodal Chemicals approves equity investment of 41 mln rupees in S.P.S Processors

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March 20 (Reuters) - Bodal Chemicals Ltd

* Says approved equity investment of 41 million rupees in S P S Processors Pvt. Ltd.

* Says deal to be funded via internal accruals

* Says BCL will hold 70 percent stake in sps processors after investment

* Says deal targeted to close before 31 March 2017

* Says investment to help BCL to increase manufacturing capacity of dyes intermediates by 25 percent

* Says BCL will provide unsecured loan about 450 million rupees to sps processors to make it debt free co

* Says approved plan to build a 350-TPM versus plant at cost of about 100 million rupees

* Says expects new versus plant to be operational by Q2 fy2018 Source text: bit.ly/2nUr7wL Further company coverage:

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