MOSCOW (MRC) -- Supreme Petrochem has received approval for modification of one of the three polystyrene (PS) producing lines at the plant in villages Amdoshi, Wangani in the state of Maharashtra into a swing line capable of producing 42,500 TPA of SMMA (Styrene Methyl Methacrylate) in addition to PS, said Plastemart.
The board of directors at its meeting held on January 22, 2016 has approved for the same.
The technology for the modification of the PS line and production of SMMA will be from Polysty Inc. USA. The cost of the project, including hardware and technology fee would be around Rs 6 crore and will be met from internal accruals. The plant start up is expected by end of 2016 and the estimated payback period is two years.
As MRC reported earlier, in December 2015, Supreme Petrochem Ltd, a producer and exporter of polystyrene polymer, temporarily stopped production at its expanded polystyrene (EPS) plant it Chennai due to flood.
Supreme Petrochem LTD (SPL) owns and operates state-of-the art production facilities from two locations in India the first at Amdoshi – Wangani Village near Nagothane in District Raigad Maharashtra and the Second in New Manali Town near Chennai in Tamil Nadu.
Supreme Petrochem Ltd., incorporated in the year 1989, is a Mid Cap company (having a market cap of Rs 1140.65 Cr.) operating in petrochemicals sector. Supreme Petrochem Ltd (SPL) is India’s largest producer and exporter of polystyrene polymer based in Mumbai, Maharashtra, India. In Indian market it has share of more than 50%. SPL is also the largest exporter of PS from India, exporting to over 93 countries around the globe.
MRC