Navin Fluorine International Limited, a major player in India’s specialty chemicals sector, has recently begun production at two international plants – one for the manufacture of a key agro-chemical intermediate and another Multi-Purpose Plant.
The plants have been established by the company’s subsidiary, Navin Fluorine Advanced Sciences Limited (NFASL).
The manufacture of this key agro-chemical fluoro intermediate will be carried out under a multi-year contract with a significant multinational company. This project is expected to enhance the company’s product offerings and customer relationships, as well as create opportunities for future growth. The investment for the project, estimated to generate annual revenue between Rs 1.5 to 1.7 billion, amounts to Rs 1.25 billion. The funding will be provided through a mix of internal accruals and debt, which also includes an approximate investment of Rs 140 million for the expansion of the effluent treatment plant.
To support the Multi-Purpose Plant, Navin Fluorine International Limited has approved capital expenditure of Rs 1.95 billion. This funding, which will also come from internal accruals and debt, will increase the company’s specialty chemicals business by opening up new opportunities for new products in the life science and crop science sectors.
These new developments are expected to significantly increase the company’s product offerings, customer relationships, and future growth potential in the specialty chemicals market.