Chemical
Navin Fluorine to invest Rs. 540 crore on manufacturing, supply of a new fluoro speciality molecule
The facility will be located at Dahej, in the state of Gujarat and will be funded through a mix of internal accruals and debt
- By ICN Bureau
| May 14, 2022
Navin Fluorine Advanced Sciences Limited (NFASL), a wholly owned subsidiary of Navin Fluorine International Ltd, has announced a capex of Rs. 540 crores to manufacture and supply a new fluoro speciality molecule with a peak revenue potential of Rs. 600 crores. The base load for the plant is secured through a multi year supply agreement with a multinational company.
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 by end of CY2023. This project will strengthen Navin Fluorine’s product offerings as well as customer relationships along with providing building blocks for future growth.
Commenting on this, Radhesh Welling, Managing Director of Navin Fluorine said: “We are excited to announce a unique project which covers all our three key business pillars- Product, Platform & Partnerships.
This project is a further reinforcement of trust of our partner as it entails transfer of proprietary technology which will be further co-developed with our expertise in fluorination chemistry. It will deepen our relationship as this platform covers multiple product portfolio of our partner.
This will also continue to strengthen our leadership position in fluorine chemistry and we look forward to further growing our relationship with our partner.”
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