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Deepak Nitrite eyes 1 Billion Dollars Revenues in 3 years with 1,400 crore Phenol project in Gujarat

Chemicals major Deepak Nitrite has set an aspiring milestone to achieve $1 billion turnover in the next three to four years, with its upcoming ₹1,400-crore phenol-acetone facility at Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in Dahej, Gujarat.

The organization’s Promoter and Chairman and Managing Director Deepak Mehta expressed that the organization will investigate all the more downstream products from phenol.

“We are setting up the nation’s biggest phenol acetone plant at Dahej PCPIR with limit of around 200,000 tons for each year. When this task is dispatched, it will trigger a great deal of new open doors for Deepak.

“We are additionally hoping to investigate all the more downstream items from phenol. We have set an aggressive focus of $1 billion turnover in the following three to four years,” Mehta told in a press release. The limit with respect to co-item CH3)2CO will be 120,000 tons for each annum.

“This is an idealistic and testing target however we expect the new phenol plant facility to assume an essential part in accomplishing it,” added Mehta.

India is right now import-subordinate for phenol, which is transported in to the tune of 2.5 lakh tons.

Locally, two phenol plant offices are operational one each at Mumbai and Kochi. Deepak’s 2 lakh-ton phenol plant facility will lessen the import reliance for phenol.

Mechanical completion of the plant, spread across 60 acres in the domestic area of PCPIR, is expected to be done by December, while commercial production is expected to start before the end of the fiscal 2018.

Deepak fabricates Bulk Chemicals and Commodities (BCC), Fine and Specialty Chemicals (FSC) and Fluorescent Whitening Agents (FWA) with its assembling offices situated at Vadodara, Dahej in Bharuch, Roha and Taloja in Maharashtra and Hyderabad in Andhra Pradesh.

On the organization’s capex plans, Mehta expressed that Dahej venture will be the biggest in the monetary, while different areas will have extension and upgradation ventures going on.

For the June quarter, the organization posted incomes of ₹361.6 crore and benefit of ₹20 crore. For the monetary 2016-17, it accomplished net benefit of ₹112 crore on incomes of ₹1221 crore.

Mehta further underlined the need for encouraging value-added specialty chemicals production and making available the intermediates to the downstream units.

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