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Asahi Songwon Colors JV starts up pigments plant in India

December 17/2020

MOSCOW (MRC) --  Asahi Songwon Colors on Monday announced the commencement of commercial operations at the Dahej plant of Asahi Tennants Color, its joint venture with Tennants Textile Colours Limited (TTC) of UK, said Chemweek.

Gokul Jaykrishna, CEO of Asahi Songwon Colors said, The commencement of operations of the JV company gives Asahi the perfect launching pad to widen its presence as a leading global supplier of pigments, and make a mark in the AZO pigment space."

In the JV, Asahi holds a controlling stake of about 51% while the remaining 49% is held by TTC. The JV which was announced in October 2019, launched the plant on  December 12, 2019, with an expected date of commissioning in March 2021.

Asahi in its regulatory filing highlighted that the state-of-the-art Dahej plant will make Red & Yellow pigments. The installed capacity of the AZO pigment plant is 2400 metric tonnes per annum. The plant has been set up for Rs82cr.

Arjun Jaykrishna, Executive Director, Asahi Songwon Colors, said, It is our pleasure to announce that in spite of the Covid-19 pandemic, we successfully commissioned the plant on December 14, four months before the original target date. We are going to work towards full capacity utilisation at the plant, and aim to double capacity by 2022."

The Dahej plant will enable Asahi to extend its global pigment presence, which is currently dominant in the phthalocyanine pigment space, to the full range of pigment colours, the company pointed out. On Sensex, Asahi Songwon completed at Rs243.50 per piece up 3.53%.

We remind that Russia's output of chemical products rose in October 2020 by 7.2% year on year. At the same time, production of basic chemicals grew in the first ten months of 2020 by 6.3% year on year, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-October output. October production of polymers in primary form grew to 857,000 tonnes from 852,000 tonnes in September. Overall output of polymers in primary form totalled 8,340,000 tonnes over the stated period, up by 17%  year on year.


mrcplast.com
Author:Anna Larionova
Tags:pigmentniy krasitel, construction, paints and coatings, Asahi Kasei, Asahimas Chemical.
Category:General News
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