Speciality chemicals manufacturer Chemplast Sanmar Limited managing director Ramkumar Shankar said that the company plans to invest 1,000 crore to increase the capacity of its Speciality Paste PVC business in Cuddalore and its Custom Manufactured Chemicals Division (CMCD) unit in Berigai.

“As we forge ahead, propelled by the robust growth momentum, we are investing over ₹.1,000 crore towards expanding our capacities in the Speciality Paste PVC and CMCD,” he said in the latest annual report.

According to him, these expansion projects are currently in progress. The 41 ktpa Speciality Paste PVC project is on track and will be commissioned during the second half of FY24 while Phase 1 of the CMCD will go on stream by the first half of FY24 and next phase by the end of FY24.

On the medium to long-term outlook, he said the demand for all the products looked very strong and the energy costs had started dropping.