SRF Board, in tune with the company’s strategic intent of expanding its chemicals business, approved two separate capex proposals aggregating Rs. 345 crore in the meeting held on Monday, August 8, 2016.
One of the proposals pertains to setting up a Multi-Purpose Plant for specialty chemicals at an estimated cost of Rs. 180 crore and the second one for Chloromethane (CMS) plant at an estimated cost of Rs. 165 crore in its Chemical Complex at Dahej in Gujarat. The new multi-purpose plant is expected to further augment SRF’s capability to develop and commercialize new molecules for agrochemicals and pharmaceutical sectors. Set up essentially with a view to providing further flexibility in its manufacturing capability, the new unit will enable SRF to cater to wider range of specialty products for emerging needs of the sector. The capex is in tune with the business objective of enhancing its product portfolio in order to continue to serve its customers on an ongoing basis.