Manali Petrochem to Invest INR 150 Crore in Expanding its Propylene Glycol Facility
- 28-Sep-2020 12:11 PM
- Journalist: Francis Stokes
South India’s small cap petrochemicals company, Manali Petrochemicals Ltd. revealed its capacity expansion plans last week wherein it mentioned to triple its Propylene Glycol capacity from 22,000 tonnes to 70,000 tonnes in two phases at an investment of INR 150 crore. The capacity is proposed to be expanded to 46,000 tonnes in the next 18 to 21 months and then by another 24,000 tonnes in the second phase. On its completion, the new capacities will be able to cater to a significant portion of the country's total Propylene Glycol demand which is about 100,000 tonnes per annum. Imports account for nearly 75 per cent of the country's total PG demand and hence the step will help in saving India’s import bills significantly and improve its self-sufficiency. Propylene Glycol is an important chemical used primarily in both pharmaceutical and food industry. The move will enable Manali Petrochemicals improve its market share and its annual sales target. Company’s chairman Ashwin Muthiah said that the company's business strategy is aligned towards actualizing the dream of an Aatmanirbhar Bharat through the government’s Make in India initiative.