Deepak Nitrite, a chemical intermediates manufacturer announced on Saturday that it has successfully commissioned a Rs 1,400 crore ($202 million) phenol-acetone plant as reported by Business Standard.
The new plant will help import savings of Rs 2,800 crore (about $400 million) for the company, the news report added.
The plant set up through its wholly-owned subsidiary Deepak Phenolics is eight times bigger than existing plants in India.
It has the capacity to manufacture 200,000 tonnes per annum of phenol and 120,000 tonnes of its co-product acetone and supported by capacity to manufacture 2.6 million tonnes of cumene as captive consumption. The IoT-enabled plant with the technology of KBR and Honeywell is located at Dahej in Gujarat.
“Our phenol and acetone and upcoming derivative projects are steps toward building India’s chemical security with import substitution”, said Deepak Mehta, Chairman and Managing Director of Deepak Nitrite and Phenolics.
“At full capacity and in the long run, we anticipate that Deepak Phenolics will save about 400 million dollars in value of imports for the country,” he said in a statement.
Source: Business Standard