Navin Fluorine International Limited, one of the largest manufacturers of fluorochemicals has bagged Rs. 2,900 Crores contract with a global company with manufacture and supply of a High Performance Product (HPP) in the fluorochemicals space. 

The contract is for a period of seven year's and this product is not part of Navin Fluorine's existing product portfolio. The capex and project will be executed through its wholly owned subsidiary, Navin Fluorine Advanced Sciences Limited (NFASL). 

Navin Fluorine through NFASL will be investing Rs. 365.50 crores to set up a dedicated manufacturing facility and approximately Rs. 71 crores to set up a captive power plant. The facility will be located at Dahej in the state of Gujarat and will be funded through a mix of internal accruals and debt. The supplies are expected to commence from Q4 of FY22. 

Commenting on the developments, Radhesh Welling, Managing Director of Navin Fluorine said, "The agreement which represents Navin Fluorine's largest contract to date, continues to establish us as a leader in production and delivery of high performance products with fluorination space. This agreement will help further expand our product portfolio and it reinforces the trust global customers have in Navin Fluorine's capabilities. It is a testament to our deep and wide fluorine experience and our strength in successfully scaling up of complex chemistries."