Himadri Chemicals and Industries, coal-tar pitch maker, is likely to serve key markets of East Asia with its upcoming $40-million facility in China -- Shandong Dawn Himadri Chemicals Industries. In January 2012, company plans to commission the first phase of the proposed 100,000 million tonnes facility with an estimated investment of $20 million.
In the second phase company plans an investment of another $20 million. Himadri will hold 94% stake in the Chinese subsidiary while the rest will be with the local partner, Shandong Dawn.
Himadri 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.
