India Pesticides Limited (IPL), one of India’s fastest growing global chemical producers, is considering a ₹500 crore capital expenditure investment at its Hamirpur factory.
K. Jain, Chief Executive Officer, India Pesticides Limited says, “We have planned ₹500 crore capital expenditure at Hamirpur over a period of around four years, because we will be building in blocks so all capital expenditure will not be done at a time. We would be doing a capital expenditure of ₹100-₹125 crore per year, starting from next year onwards.”
Jain further states, “We have already applied for environmental clearance for our Hamirpur facility. We remain committed to delivering continuous sustainable long-term growth with R&D at the core, leading to continuous innovations in products, as well as in processes. The first step is that we have to get the environmental clearance and for that, we have already applied for the clearance.
And now, our consultant is taking up forward steps toward having the environmental impact assessment report prepared. Once this report is prepared and submitted to the authorities, they take about two or three months to convene a meeting and then accord approval if everything is okay. So, we expect the EC clearance by about September – October and then we can start the construction at the site. So, we expect the first product to come out maybe in the quarter three of financial year FY 2023-24. And thereon, it will be continuous”.
