23 January 2009 16:12 [Source: ICIS news]
NEW DELHI (ICIS news)--India’s Pidilite Industries Ltd (PIL) has started engineering work on its elastomer plant after receiving a technology-process transfer from Polimeri Europa, the company said on Friday.
PIL said it started initial refurbishment work on the elastomer plant at Dahej, in Gujarat state, which consists of parts purchased from a dismantled Polimeri plant in ?xml:namespace>
The company said it has so far invested rupees (Rs) 1.6bn ($32.5m) in the Rs6.2bn project, which will comprise a 35,000 tonne/year plant and 10-megawatt captive power unit.
The export-focused plant will have the capacity to produce 30,000 tonnes/year of poly chloro rubber and 1,000 tonnes/year each of chlorinated polyolefins, sulphur chlorinated polyolefins, butenedoils, 1,4 butanediols and tetrahydrofuran.
The plant is slated to come on stream in March 2010.
Regarding its 14 overseas subsidiaries, PIL said the current quarter would see it commission adhesives plants in
Most of the subsidiaries continued to incur losses due to an additional expenditure on business development initiatives, it said.
“The additional expenditure has still not resulted in a commensurate increase in sales and margins,” it said.
The company said its plan to reduce losses at its subsidiaries might not materialise in 2008-2009 due to costs related to the 50% depreciation of
($1 = Rs49.20)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|