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Himadri Chemicals to invest Rs 525 crore for greenfield project at Odisha: Reports

03 Oct 2012 Evaluate

Kolkata-based Himadri Chemicals and Industries is likely to go live with the first phase of its 300,000 tonnes coal-tar distillation plant at Odisha by March 2014, as mentioned in a media report. The company for setting up two phased green field project at Odisha will entail an investment of Rs 5200 crore.

Out of this, the first phase which would require an estimated investment of Rs 290 crore, will see the Odisha plant producing around 150,000 tonnes of coal-tar pitch, while the second phase of another 150,000 tonnes is likely to on stream by March 2016. Coal-tar pitch is the key raw material used for manufacturing aluminium and graphite, which together consumes about 91 per cent of the total coal-tar pitch produced in the country.

Further towards this development, the company, which is currently awaiting clearance of 80 acres of land, is expected to start construction activities for its first phase by March 2013.  Additionally, the company is also planning spend nearly Rs 300 crore for boosting coal-tar distillation facilities at its Hooghly unit by another 150,000 tonnes, thereby pushing up its total capacity to 400,000 tonnes by this fiscal.

Himadri Chemicals and Industries is the largest quality grade pitch manufacturer India. The company is a market leader in supply of coal tar pitch and other by-products and commands a 70% market share.

Himadri Speciality Share Price

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