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Sep. 23, 2009

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Sep. 23, 2009

Meghmani Organics sets up new facility to manufacture 2, 4-D

Meghmani Organics Limited (MOL), the company engaged in pigments and agrochemicals manufacturing, has decided to foray into herbicides segment by setting up a new facility to manufacture 2, 4-D acid, a widely used and environment friendly herbicide, on plot no. CH-1+2A, situated at GIDC Dahej, Bharuch while shelling out around Rs 84 crore.

The project which will be set up over 50,000 square meter of land is proposed to be located in the vicinity of Caustic Chlorine complex of the subsidiary company, Meghmani Finechem (MFL).

This will, ensure the availability of Chlorine from MFL through pipeline for production of Monochloroacetic Acid (MCAA) as well as for the production of 2, 4-D which will reduce the cost of production of MCAA.

In the manufacture of MCAA, Trichloroacetyle Chloride (TCAC) will be generated which is a key raw material for one of the existing technical product of the company, Chlorpyriphos.

The planned annual installed capacity of 2, 4-D acid is 9600 MT and MCAA 12,000 MT. MCAA plant will also generate 2400 MT of TCAC.

At present, the market size of this product is estimated at around 73,000 MTA. The world wide major suppliers of 2, 4-D acid are Nufarm (Australia), DOW (USA), Atanor (Argentina) and Atul Products (India).

The project will be funded by way of term-loan of Rs 56 crore and internal accruals worth Rs 28 crore. The first phase of operation of the project is expected to commence by December, 2009, the company said in its filing with the BSE.

MOL is expected to achieve full utilization of the facility by April 2010 and the top line of about Rs 130 crore by fiscal year 2011.

 

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