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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. |
