The successful commissioning of the chlorinated polyvinyl chloride resin (CPVC Resin) factory in Dahej in Gujarat has been announced by Meghmani Finechem Limited (MFL). The newly opened factory is the biggest of its sort in India, with a manufacturing capacity of 30,000 tonnes per year (TPA). Despite a difficult external context, the facility was launched on schedule and without incurring any costs.
The demand for CPVC resin in India is estimated to be 1,40,000 tonnes per year (TPA) and is projected to increase by 13 percent CAGR over the following five years. The need for CPVC resin in India is imported to a degree of about 95%. MFL’s introduction into this product is consistent with the national government’s “Make in India” and “Aatmanirbhar Bharat” initiatives.
Maulik Patel, Chairman and Managing Director MFL informs, “I am happy to announce that we have commissioned India’s largest CPVC resin plant of 30,000 TPA. I would like to congratulate our project team for commissioning the plant on committed timelines and within the estimated capex limit. Production of CPVC resin has started and it is under approval process with various customers. We estimate that it will take around three months’ time for approval and stabilisation process. We expect that volume of CPVC resin should pick from Q3FY22 onwards and should reach optimum capacity utilisation by Q1FY24. On commissioning of CPVC resin plant, we are moving in the direction of being a multi-product company and this will increase revenue contribution from the derivative and specialty chemical segment. Also, this will further strengthen our fully integrated complex, as part of the raw material for CPVC resin will be available within the plant itself.”
