DCM Shriram to Seek Support from IFC for its USD 143 Million Chlor Alkali Brownfield Expansion Plan
- Journalist: Jaideep
India ‘s Chlor Alkali giant DCM Shriram Ltd. has planned to invest around USD 143 million in a brownfield expansion project in Gujarat. The proposed project involves expansion of the company’s 700 tons per day (TPD) Chlor-Alkali unit at Bharuch, Gujarat along with a 500 TPD flaker plant and a 120-megawatt captive power plant. DCM has sought financial assistance for the project from the International Finance Corporation (IFC), a globally renowned financial institution and a member of World Bank Group. In the wake of supply chain disruptions due to COVID-19 pandemic and an unprecedented loss to its business verticals, DCM has opted for IFC’s crisis response for Covid-19 financing which would help in bridging the company’s cash flow gaps and ensure timely completion of the project. The project would enable the availability of Caustic Soda at competitive prices, and the key feedstocks to several downstream industries in the Indian market such as alumina, paper, detergents, agro-chemicals, and pharmaceuticals.