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The JV, Trience Speciality Chemicals, is scheduled to start production in
2014 with an initial annual capacity of 20,000 mt, which is expected to be
scaled up in relatively early stages of production, a Kaneka release said here
today.
An initial investment of USD 120 million has been planned - of which 41
per cent will be contributed by Kaneka, 39 per cent by Meghmani and the
remaining 20 per cent by Mitusi, the release said.
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"Demand for CPVC has been growing globally. In the domestic market,
galvanised iron pipe has been replaced by CPVC and the trend has been
accelerating in recent years. To grasp such market opportunity, Kaneka has been
seeking for a chance to build a CPVC plant," the release said. Ahmedabad-based
Meghmani manufactures agrochemicals, pigment and other speciality chemicals and
has a facility at Dahej. Under the JV pact, it will supply chlorine to
Trience.
The Japan-based international trading and investment firm Mitusi will
handle raw material PVC procurement and will play a key role in CPVC sales and
marketing in the Indian market, it said.
mrcplast.com
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