Chemical
Navin Fluorine to complete HPP plant by Q4 FY22
The company had announced capital expenditure of Rs. 436 crore for the project.
- By Pravin Prashant
| July 30, 2020
Navin Fluorine International Limited, the largest integrated specialty fluorochemical company in India, is on schedule to complete the manufacturing of High-performance Product (HPP) in the Fluorochemical space by Q4 FY22.
The company had announced capital expenditure of Rs. 436 crore for the project. The Capex was backed by a contract of Rs. 2,800 crore with a global company for manufacture and supply of a High-performance Product (HPP) in the Fluorochemical space.
The project will be executed through wholly owned subsidiary Navin Fluorine Advanced Science Limited (NFASL) at Dahej, Gujarat.
The company is investing $51.5 million (Rs. 365 crore) for a dedicated manufacturing facility and around $10 million (Rs. 71 crore) for captive power plants.
The product is not part of the Navin Fluorine existing product portfolio and is a new set of opportunities for application of Fluorine for a completely new segment.
The company will manufacture both intermediate and final products. Intermediate can be used for multi-product manufacturing and currently the contract is for one product.
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