Himadri company to invest Rs 1,000 cr in Bengal
Kolkata March 14 (IANS) Himadri Speciality Chemical will invest Rs 1 000 crore in five years to expand its carbon black business and expects to clock additional revenue of Rs 2 500-Rs 3 000 crore from the new product lines an official said on Wednesday.
With this expansion the company is expected to add another two lakh tonnes capacity from the existing 1.2 lakh tonnes the official said.
"With a 17 per cent market share in carbon black we are looking to produce high-end products in the speciality black. With the Rs 1 000 crore investment over five years at our Mahistikry plant in West Bengal s Hooghly district we expect another Rs 2 500-Rs 3 000 crore revenue from the new two lakh tonnes capacity " company s CEO Anurag Choudhary told reporters here.
After the completion of expansion its total production capacity would be 3.2 lakh tonnes.
As per the expansion plan the company expects to add 60 000 tonnes in capacity by April 2019 in the first phase he said.
He said the company produces 15 grades of carbon black and with this expansion it will be introducing additional 40 new grades of the product.
These different grades of speciality black have applications in racing tyres moulded rubber goods and many other products Choudhary said.
The company is mostly targeting the exports markets of north America Europe Southeast Asia and the Middle East for these high-end products. The company is expecting to clock Rs 2 200 crore revenue in the current fiscal.