Thirumalai Chemicals Ltd Approves Investment in Dahej Expansion Projects

The Board of Directors of Thirumalai Chemicals Ltd (TCL), at its meeting on November 2, 2021, approved the investment in a phthalic anhydride and fine chemicals manufacturing project at its Dahej site in Gujarat, in India. This is intended for large markets in West India and regional exports.

The investment will be financed by the internal adjustments of the company and by loans.

The project includes a phthalic anhydride unit of 90,000 tonnes per year. Its commissioning is scheduled for S2 FY 23-24. The project will use TCL’s in-house technology.

TCL already operates a phthalic anhydride plant at this site, which was commissioned about 6 months ago. Phthalic anhydride is widely used – to make dyes, resins for construction, infrastructure and housing, additives for polymers, inks, paints, etc.

TCL manufactures approximately 160,000 tonnes of phthalic anhydride, food ingredients and fine chemicals at its existing facilities in Ranipet and Dahej.

TCL also manufactures approximately 50,000 metric tonnes of maleic anhydride and butane derivatives, at its wholly owned subsidiary in Malaysia since 1996.

TCL is currently building an integrated production facility for maleic anhydride butane and food ingredients (malic acids, fumarics and other derivatives), through a wholly-owned subsidiary in the United States.

This installation should be started at S2 FY23-24.

Shares of Thirumalai Chemicals Limited were last trading on BSE at Rs. 249.20 from the previous close of Rs. 248.40. The total number of shares traded during the day was 30,934 in more than 836 trades.

The action hit an intraday high of Rs. 253.70 and an intraday low of 245.90. The net turnover during the day was Rs. 7,734,740.00.

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