Thirumalai Chemicals Limited updates on new project at Dahej, Gujarat

Thirumalai Chemicals Limited India (TCL) plans to execute a project to manufacture 180,000 tons per year of Phthalic Anhydride (PA) and 30,000 tons per year of Fine & Specialty Chemicals, at its existing site at Dahej, Gujarat, and Western India - to be implemented in two successive phases. The company expects to bring the first of these two phases on-stream in about 2 years after receipt of all needed approvals.

Work has commenced on Design & Engineering of the plant. The Raw Materials for this integrated plant will be sourced primarily within Gujarat; the finished products are aimed at the large West & North Indian markets, and at Exports.

Phthalic Anhydride has a wide variety of uses in Colorants, Polymer Additives, Reinforced Polymers, Fine Chemicals etc. India's consumption levels in PA and the above products are still very low compared to other countries, while demand growth has been strong. This project is expected to replace the large imports of PA and drive downstream growth in India.

TCL has been a leading producer of Phthalic Anhydride and derivatives over 45 years; its range of products includes Maleic Anhydride (produced by its subsidiary), Food Ingredients and Fine Chemicals. It presently has two manufacturing facilities - in South and West India; its subsidiary in Malaysia operates Butane Maleic Anhydride & derivatives Plants. All of these based on TCL's in-house process technologies and engineering capabilities.

TCL sells its products primarily in India, South East Asia, Middle East and Europe, with some quantities in North America.

The commissioning of TCL's first PA plant at Dahej, was delayed by the recent pandemic wave in Gujarat. The startup is now under progress.

Shares of THIRUMALAI CHEMICALS LTD. was last trading in BSE at Rs.133.35 as compared to the previous close of Rs. 127.05. The total number of shares traded during the day was 770194 in over 8816 trades.

The stock hit an intraday high of Rs. 139.65 and intraday low of 122.95. The net turnover during the day was Rs. 100560951.

Source : Equity Bulls

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