Latest News | Vikas Ecotech Pays Rs 119 Crore Loan; Aims to Become Debt-free This Fiscal
Get latest articles and stories on Latest News at LatestLY. Recycling player Vikas Ecotech on Wednesday said it has cleared its loan of Rs 119 crore and aims to become debt-free by the end of this fiscal.
New Delhi, Dec 13 (PTI) Recycling player Vikas Ecotech on Wednesday said it has cleared its loan of Rs 119 crore and aims to become debt-free by the end of this fiscal.
With the latest repayment, the outstanding debt of the company now stands at Rs 42.5 crore, Vikas Ecotech said in a statement.
"In this fiscal, we have repaid Rs 118.70 crore to our lenders till date. Now, our aim is to become a debt-free company by the end of FY 2023–24," a company official said in the statement.
The company manufactures a wide range of differentiated PET (polyethylene terephthalate) compounds and PVC (polyvinyl chloride) compounds through recycling.
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Besides recycling, the New Delhi-based company is also engaged in the business of producing specialty polymers for applications in sectors like electrical, infrastructure, packaging, and automotive, among others.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)