07 March 2007 15:02 [Source: ICIS news]
NEW DELHI (ICIS news)--India’s SRF Limited will form a 50:50 joint venture with a Chinese fluorspar producer to establish an anhydrous hydrogen fluoride (AHF) joint venture at a cost of $9m, the chemicals producer said on Wednesday.
SRF said its equity participation in the Chinese joint venture would not exceed $3m but did not not disclose any additional information on the project.
Its board of directors approved the project as well as a proposal to expand its chloromethanes capacity to 102 tonnes/day from 82.5 tonnes/day at a cost of Indian rupees (Rs)170m ($3.8m) at its chemical complex in Bhiwadi, ?xml:namespace>
In January, the company decided to set up a new fluoro specialty chemical unit for Rs143.5m and upgrade its R&D (research and development) and pilot plant facilities with investment of Rs144m at the same site.
($1 = Rs44.3)
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