India’s MOL to double TIO2 capacity by Dec 2023

Priya Jestin

31-Jan-2023

MUMBAI (ICIS)–India’s Meghmani Organics Ltd (MOL) expects to double its titanium dioxide (TIO2) capacity to 33,000 tonnes/year by December 2023 at a cost of around Rs3.75bn ($45.98m), a company executive said on Tuesday.

Meghmani commenced operations at its 16,500 tonnes/year TIO2 plant at Dahej in western Gujarat state on 18 January, it said in a regulatory filing to the Bombay Stock Exchange (BSE).

“We are working towards stabilizing the plant and we hope to stabilize it in around two months. The phase two of doubling the TIO2 capacity is expected to be completed by the third quarter of financial year 2023-24,” the executive said.

The company’s TIO2 production is mainly targeted at the domestic market, he said, adding that currently, over 70% of India’s TiO2 requirement is being imported.

“In the domestic market, the paint and coatings industry which is the major end-use industry for TiO2, is growing at double digit growth rate so there is going to be a very good demand,” he said.

In addition to paints, TIO2 is also used in products like plastics, papers, inks, foods, medicines and toothpastes.

The company also plans to set up a liquid urea plant through its wholly owned subsidiary Meghmani Crop Nutrition Ltd (MCNL).

The liquid or nano urea plant will be set up at a cost of Rs1.5bn and is expected to commence commercial production by April 2024.

The plant will have the capacity to produce 50m bottles/year. Each bottle is 500 millilitres (ML).

A 500ML bottle of the product would be able to replace at least one 45KG bag of conventional urea, and reduce urea requirements by 50%.

MCNL will produce the liquid urea using technology developed and patented by Indian Farmers Fertiliser Cooperative Ltd (IFFCO).

MOL is a leading pigments and agrochemicals producer in India with six production facilities located in Gujarat.

($1= Rs81.55)

Focus article by Priya Jestin

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