Tue, Mar 28, 2017 | updated 07:29 PM IST

SRF Board approves Rs. 345 crore capex for two chemical plants

Updated: Aug 09, 2016 14:34 IST

New Delhi, Aug 9 (ANI-NewsVoir): SRF Board, in tune with the company's strategic intent of expanding its chemicals business, approved two separate capex proposals aggregating Rs. 345 crore in the meeting held on Monday, August 8, 2016.

One of the proposals pertains to setting up a Multi-Purpose Plant for specialty chemicals at an estimated cost of Rs. 180 crore and the second one for Chloromethane (CMS) plant at an estimated cost of Rs. 165 crore in its Chemical Complex at Dahej in Gujarat.

The new multi-purpose plant is expected to further augment SRF's capability to develop and commercialize new molecules for agrochemicals and pharmaceutical sectors. Set up essentially with a view to providing further flexibility in its manufacturing capability, the new unit will enable SRF to cater to wider range of specialty products for emerging needs of the sector.

The capex is in tune with the business objective of enhancing its product portfolio in order to continue to serve its customers on an ongoing basis.

The second project that got approved in the Board, aims to double SRF's capacity for Chloromethanes to 80,000 tonnes per annum. The existing Chloromethane plant is situated at Bhiwadi in Rajasthan.

The new chloromethane plant will enable SRF to meet the growing needs of its Pharma customers for Methylene Dichloride (MDC) and will strengthen its foothold in the Indian market, which remains a net importer of Methylene Dichloride (MDC).

SRF already enjoys an enviable reputation of a credible domestic supplier of MDC with most of the leading Pharma customers in India over the last 20 years.

Besides, MDC is a key raw material for HFC 32, the refrigerant that SRF recently started manufacturing at its Bhiwadi plant with its own technology.

The new plant will thus make SRF the only Indian integrated producer of HFC 32, a refrigerant to be increasingly used in room air-conditioners in future.

The expansion of Chloromethanes plant is, however, strongly linked to captive consumption of Chloroform, which has limited usage. SRF is, therefore, uniquely positioned to leverage the opportunity as it has the capability for captive consumption of the other two ingredients, Chloroform and Carbon Tetra Chloride (CTC).

Apart from its usage as a solvent in the growing pharmaceutical drugs, MDC is also used for various applications such as foam blowing segments, Aerosols, Polycarbonate Resins and Adhesive formulations. Chloroform is mainly used as raw material to manufacture HCFC 22 and also in Pharma and CTC as feedstock in agrochemical intermediates.

SRF will thus consume a large part of Chloroform for manufacturing HCFC 22, which will be increasingly used as a feedstock for specialty chemicals, a business of SRF that has been growing steadily for last five to six years.

Similarly, the captive consumption of CTC at SRF will also increase as feedstock for its specialty chemicals.

The new Chloromethane plant with an annual capacity of 40,000 tonnes is scheduled to be commissioned in December 2017.

The Chloromethanes along with Trichloroethylene (TCE), Perchloroethylene (PCE) and Dilute Hydrofluoric (DHF) acid jointly form SRF's portfolio of solvent products under its Fluorochemicals Business. The other products of the business include a wide range of refrigerants, sold under the brand name of FLORON both in India and abroad. (ANI-NewsVoir)

Idea launches 4G services in Jammu

Updated: Mar 28, 2017 17:22 IST

New Delhi [India], Mar 28 (ANI): Telecom operator Idea Cellular on Tuesday announced its operations of world class 4G services in Jammu and Kashmir circle.

Full Story >>

New Delhi [India], Mar. 28 (ANI-NewsVoir): Pachouli - a leading health, fitness and beauty brand joined hands with India Designer Society to partner for one of its kind fashion reality show "India Kids Fashion Fest."

Full Story >>

New Delhi [India], Mar 28 (ANI): Given the continuing sluggishness in the key real estate and construction sectors, ICRA expects the overall steel consumption growth for FY2017 to be lower than the previous year levels.

Full Story >>

New Delhi [India], Mar 28 (ANI): In pursuance with the decision of Dr. K M Cherian, Chairman and CEO of Frontier Lifeline Hospital (FLL) and Remigijus Zaliunas, Rector Professor of the Lithuanian University of Health Sciences (LSMU), a Memorandum of Understanding (MOU) has been signed between both the institutions, for promoting and reinforcing cooperation, mutual exchange of views and information, improvement of research and academic programmes and also exchange of experts and researchers.

Full Story >>

New Delhi [India], Mar 28 (ANI-NewsVoir): E. Elumalai, BSc., Student (final year, Perambur Branch, Chennai) of Chennais Amirta International Institute of Hotel Management, brought laurels to the city winning bronze medal in the Culinary Art India 2017 competition. The 12th edition of the national level competition was part of Aahar International Fair held at Pragathi Maidan, New Delhi from 6th to 11th March 2017. It was organized by India Trade Promotion Organization (ITPO) in association with Indian Culinary Forum (ICF).

Full Story >>

New Delhi [India], Mar 28 (ANI): Capillary Technologies, the leader in cloud-based OmniChannel Engagement and Commerce solutions has partnered with Exclusífe to provide comprehensive CRM solutions to retailers of all sizes in India.

Full Story >>

New Delhi [India], Mar 28 (ANI): Largest telecommunications services provider Bharti Airtel Limited on Tuesday announced the successful completion of the secondary sale of over 190 million shares of its subsidiary Bharti Infratel Limited (Bharti Infratel) representing 10.3 percent, to a consortium of funds advised by KKR and Canada Pension Plan Investment Board for a total consideration of over Rs. 6,193.9 crore (approx. USD 951.6 million), executed at a price of Rs. 325 per share.

Full Story >>

New Delhi [India], Mar 28 (ANI): Housing.com has launched a unified platform for real estate developers and partners to manage their business, 'Housing Partner'.

Full Story >>

New Delhi [India], Mar 28 (ANI): India's largest Income Tax returns e-filing and enterprise compliance service provider ClearTax on Tuesday launched its GST e-learning kit to educate the business community and make over 2.5 lakh CAs and Tax Return Preparers GST-ready and help them serve over 1 crore businesses.

Full Story >>

New Delhi [India], Mar 28 (ANI): Digital platform that connects, engages and helps sports audiences interact with each other on a real-time basis, Rooter on Tuesday announced raising of an undisclosed amount of funds from Intex, one of India's fastest growing consumer electronic goods and accessories manufacturer.

Full Story >>

New Delhi [India], Mar 28 (ANI-NewsVoir): As per a National Book Trust NCAER survey in 2009, there were 83 million Indians (13-35 age group) reading books for leisure in 2009. Reading in Hindi, Marathi, Bengali and English primarily, 46 percent of the respondents chose "knowledge enhancement" as a reason for reading books.

Full Story >>

New Delhi [India], Mar 28 (ANI-BusinessWireIndia): The Schwab Foundation for Social Entrepreneurship, a sister organization of the World Economic Forum, in partnership with the Jubilant Bhartia Foundation announces opening of entries for the annual competition Social Entrepreneur of the Year (SEOY) India Award2017.

Full Story >>

New Delhi [India], Mar 27 (ANI): Leading financial marketplace Wishfin on Monday announced developments in the company's management team with key new hires to support its expansion.

Full Story >>

New Delhi [India], Mar 27 (ANI): Bank of Baroda, India's leading public sector bank has entered into MOU with Jain Irrigation Systems Limited, with an objective to finance the Micro Irrigation systems i.e. drip and sprinkler irrigation sold by the company through the network of Bank of Baroda branches across the country.

Full Story >>

New Delhi [India], Mar 27 (ANI): The 33rd Edition of India Carpet Expo, Organized by Carpet Export Promotion Council at Pragati Maidan, New Delhi was inaugurated today with lamp lighting by Minister of Textile, Smriti Irani in the august presence of Ajay Tamta, Minister of State for Textiles and Virender Singh, Member of Parliament, Bhadohi.

Full Story >>

New Delhi [India], Mar 27 (ANI): India's top mobile balance management service app True Balance has introduced a welcomed addition of 'One-click Recharge' feature to facilitate easy phone bill payments through its platform.

Full Story >>

New Delhi [India], Mar 27 (ANI): Unveiled at the Milan Men's Fashion Week 2017, the Ducati Diavel Diesel is now available on special order at Ducati dealerships across the country. One of the most successful Ducati models in India, the Diavel has now donned an exquisite avatar, as a result of a creative collaboration between the Ducati Design Center and Andrea Rosso, Diesel Licensing Creative Director.

Full Story >>

New Delhi [India], Mar 27 (ANI): India's leading online recruitment marketplace Aasaanjobs on Monday announced the launch of its unique search and filter feature for job seekers on its platform.

Full Story >>

New Delhi [India], Mar 27 (ANI-NewsVoir): The fast moving consumer goods (FMCG) segment is the fourth largest sector in the Indian economy.

Full Story >>

New Delhi [India], Mar 27 (ANI-NewsVoir): Shardul Amarchand Mangaldas and Co. has been awarded the 'National Law Firm of the Year, 2017, India' by Chambers and Partners, the world's premium evaluator of Legal Services.

Full Story >>