Lawreshwar Polymers signed letter of intent (LoI) with the government of Rajasthan for setting up of EVA Footwear, PU Footwear, Sports Footwear, Leather Footwear, Sports Goods and Apparels at Jaipur on November 30.
The company will require approximately 25,000 square metres of land for setting up of the above project with an estimated investment of Rs 350 million.
Further, the company agreed to set up the project with in a period of 2 years, the validity of the LoI for a period of 1 years which shall be renewed after considering the progress made for implementation of the project extend the term of the LoI for such further period as may be mutually agreed upon between the parties.
Shares of the company gained Rs 0.64, or 7.27%, to settle at Rs 9.44. The total volume of shares traded was 59,076 at the BSE. (Monday)
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