Balaji Amines Ltd said that as part of its growth plan, it plans to go for capital expenditure of Rs.150 crore to Rs.170 crore for setting up ethyl amines plant in Solapur, Maharashtra during the current fiscal year. The CAPEX will be largely funded by internal accruals. This will be for the first phase of the company’s greenfield expansion project under which, Balaji Amines will install capacity for manufacturing 16,500 tonnes of ethyl amines and 9,900 tonnes of dimethyl carbonate.

 

The significant part of this expansion is the scale of the project and its demand scenario in the domestic market.

 

The data revealed by Balaji Amines stated that after successfully implementing this, the company will have the largest installed capacity of ethyl amines in the country with nearly 22,500 tonnes per annum. Meanwhile, the present demand for dimethyl carbonate is around 8,000 tonnes in the domestic market, which is fully dependent on imports.

 

Further, for its agrochemical business, factors such as storage levels in water reservoirs in the country, hike in minimum support price (MSP) of key Kharif crops and expectation of a strong monsoon spread may act as triggers for the company’s prospective growth.

 

"Over the years, at Balaji Amines we have systematically made investments in more specialized products by capitalizing on technological innovation to drive organic growth. Much of the organic growth has come from our focus on specialty derivatives of existing products. We are continuously striving to better our product portfolio to compete effectively and efficiently in the end markets. In FY21, we expect significant contribution to flow in from the subsidiary company. We are very focused on next level of growth and upscale for Balaji Amines over the next three-four years", said D. Ram Reddy, Managing Director, Balaji Amines during a recent investors call.