Privi Speciality Chemicals’ (Privi) Joint Venture company -- Prigiv Speciatties (Prigiv) has commenced operations at its greenfield facility in Mahad in the state of Maharashtra. This greenfield facility is a state-of-the-art manufacturing unit, custom-built to produce small volume fragrance ingredients of medium to high complexity exclusively for Givaudan. The total capital expenditure incurred for this project is around Rs 178 crore, funded through equity contributions from both partners and loan financing from Givaudan.
Privi holds 51% equity stake in the joint venture with Givaudan holding the remaining 49%. The JV initially targets to manufacture a broad portfolio of value added products with a progressive ramp up in activities over the next two to three years. The Commercialization of operations further solidifies the partnership between the two companies, who have had a long-standing relationship. The joint venture's infrastructure has also been expanded with an additional 5-acre area, adjacent to the existing 4-acre site, laying the foundation for significant future growth.
Privi Speciality Chemicals is lndia's leading manufacturer, supplier and exporter of aroma and fragrance chemicals and a globally trusted partner and a preferred supplier of bulk aroma chemicals.
