Deepak Nitrite Plans Expansion for Isopropyl Alcohol Capacity
Increasing demand for Isopropyl Alcohol (IPA) and growth in domestic pharmaceutical industry has prompted Deepak Nitrite Limited to set up an IPA plant at its Dahej manufacturing complex. The project has an estimated capex of about INR 2 Billion budgeted over a period of nine months. Moreover, the ongoing US-China tensions has made India a favorable outsourcing destination for European and American countries. Growth in domestic pharmaceutical industry which accounts for almost 80 per cent of IPA demand and ongoing Infrastructure developments in the country will also boost of the demand for industrial chemicals. Therefore, considering the market trends and developments, Deepak group plans to invest in the downstream products. “This expansion will reduce import dependency and the company has already acquired 125 acres of land for future expansion plans”, said Deepak Mehta, the chairman of Deepak Nitrite Limited.