Jayshree Chemicals, a B. K. Birla group company has announced that it has clinched an agreement with Udhe India, a wholly-owned arm of Uhde Gmbh of Germany, part of Thyssenkrupp Group for acquisition of technology for manufacturing caustic soda at its plant located at Ganjam in Orissa.

Alongside, the company is also searching options to expand capacity at a cost of Rs 1 billion.

As per media reports, the company would finance the proposed project through a mix of equity and debt.

Further, company's board had decided to replace the existing mercury technology for manufacturing caustic soda at its factory at Ganjam by membrane technology, and to augment the installed capacity from 22,500 tpa to 49,000 tpa at an estimated cost of Rs 1.40 billion which now has been revised upward to Rs 1.50 billion.

Stock of Jayshree Chemicals ended the day in green at Rs 19, up 4.84% on Bombay Stock Exchange (BSE).