Specialty chemicals maker Chemplast Sanmar Ltd. plans to invest ₹1,007 crore to add capacity across its factories in Tamil Nadu over the next four years, a senior official said.
“We will be investing ₹1,007 crore in Cuddalore and Berigai (Krishnagiri district) in the next four years and will employ close to 600 people,” executive vice president R. Karthik said during an interaction.
The plan is to expand capacities at the Custom Manufactured Chemicals Division (CMCD) in Berigai, as well as the Specialty Paste PVC resin manufacturing unit in Cuddalore.
The Sanmar Group’s flagship company had recently signed an MoU with the State government spelling out its long-term investment plan, which would help the chemicals maker enhance its manufacturing capability and boost production volume.
The CMC division is engaged in the manufacture of advanced intermediates for global agrochemical, pharmaceutical, and fine chemical end-use. In addition, CMC markets and sells unique chemistry and process capabilities.
Recently the phase-1 of the multi-purpose custom manufacturing block at Berigai was inaugurated at an investment of ₹300 crore. It commenced manufacturing of advanced intermediates for global agrochemical, pharmaceutical, and fine chemical innovators.
The company officials hope that phase-2 would take a much shorter time to commission after the completion of phase-1, as it would not require any additional civil work.
Published - January 13, 2024 07:17 pm IST
