Ahmedabad, Oct 30 (UNI) Meghmani Organics Limited (MOL), an India based global manufacturer of pigments and agrochemicals, today unveiled its plans to set up a caustic chlorine complex (CCP) at Dahej in Bharuch district under a special purpose vehicle (SPV), Meghmani Finechem Limited (MFL).
The large-scale, integrated complex, when completed, will be used for the production of caustic soda, chlorine gas and hydragen gas in the first phase, MOL MD Ashish Soparkar said while addressing a press conference here today.
MFL plans to set up downstream/derivative projects based on caustic/chlorine in the subsequent phases, Mr Soparkar said, adding that the estimated cost of the proposed CCP project is Rs 503.16 crore to be raised through debt of Rs 344.18 crore and Rs 158.98 crore by equity/quasi equity. The equity/quasi equity contribution will be partly made by MOL/promoters and partly by the private equity/strategic investors.
He said the proposed complex will utilise latest 4th generation membrane cell technology from Asahi Kasei Chemicals Corporation (AKCC) of Japan, one of the most established technology providers for the manufacture of chlor-alkali chemicals in the world.
The proposed plant will be located at Dahhej on 161-acre land plot, which the Company acquired in 2006.