By: ICN Bureau
Last updated : August 08, 2022 9:41 am
The expansion program is on due course and will see additional capacity going onstream in batches starting from the second half of 2023 to 2023
Panama Petrochem Limited, a company manufacturing petroleum specialty products and manufacturing over 80 different variants of petroleum specialties catering to about six to seven different industrial segments, is planning to increase its capacity by 60,000 tonnes in the next two years.
Hussein Rayani, Joint Managing Director, Panama Petrochem Limited said, "We entered into the manufacturing of our first overseas plant in UAE under the name Panol Industries, which is a 100% owned subsidiary of Panama PetroChem with a total installed capacity of 240,000 metric tons. We are currently running on 100% capacity utilization at all our units and we have a plan of continuously increasing our capacity in the coming years. This year, we have a plan to add another 30,000 tonnes to our capacity, which will be commercialized in the second half of this year."
The expansion program is on due course and we will see additional capacity going onstream in batches starting from the second half of 2023 to 2023, commented Rayani.
"This year, we have already planned an addition of 30,000 tonnes to our existing capacity. And in the coming years, we have further plans to increase about 30,000 tonnes per year each of the coming two or three years, we have a Capex of about Rs. 100 crore which we have for this planned expansions or through our internal accruals," said Rayani.
"Yes, we do a lot of customized solutions for our customers and a lot of import substitutes. So, a lot of our customers especially in the segments of inks and ink manufacturing or in the rubber industry, or in the textile industry, we make products based on customer's specifications, requirements, process, and exactly as per their requirements. So, these are very tailor-made products, where there is much less competition, and we can pass on a higher price, due to this. A lot of our customers who are multinationals, they otherwise import these products from either Europe or other Western countries. So, we give them a solution with a just in time delivery, equivalent to the grades that they require. So, these are very custom-made, and we are very well positioned to supply them," added Rayani.