Atul and Nouryon commences production at joint venture Anaven to supply fast-growing Indian markets

Nouryon and Atul successfully started production at Anaven, which will help meet the rapidly growing demand in India’s agricultural, personal care, and pharmaceutical markets.

Apr 27, 2021 03:04 IST India Infoline News Service

Atul Limited and speciality chemicals company Nouryon has successfully started production at Anaven, a new joint venture in Gujarat, India, that will help meet the rapidly growing demand in India’s agricultural, personal care, and pharmaceutical markets. Anaven LLP which is a joint venture of Nouryon (earlier AkzoNobel) and Atul.

Anaven is India’s largest monochloroacetic acid (MCA) production site, with a current capacity of 32,000 tons of MCA per year, with the possibility of a rapid expansion of up to 60,000 tons per year. MCA is used as an essential raw material for a variety of products, such as adhesives, pharmaceuticals and crop protection chemicals. Atul consumes a portion of the MCA directly in its own production of crop protection chemicals.

Rob Vancko, Vice President of Construction at Nouryon and Chairman of Anaven, said: “Through this partnership with Atul, we can leverage Nouryon’s global leadership in MCA in order to meet the fast-growing demand from customers across multiple markets in India, while also continuing to drive innovation and sustainability in the region.”

Nouryon, which recently received the Silver Medal by EcoVadis for its sustainability achievements, applied its expertise to build a plant that uses eco-friendly hydrogenation technology and employs the latest sustainability innovations for low energy consumption. The Anaven plant is also the only zero-liquid discharge MCA production site in the world, meaning that zero wastewater exits the plant – a critical factor in India where water is scarce. The plant is also highly focused on continuous safety and was constructed with zero injuries.

Sunil Lalbhai, Chairman and Managing Director of Atul said: “Thanks to our partnership, we can apply Nouryon’s state-of-the art technology in the new plant while creating forward and backward integration with our bulk and agri-chemicals businesses. The Anaven plant will ensure a reliable supply of a key raw material for the Indian market, giving a growing number of farmers, doctors and households better access to daily essentials.”

Nouryon has MCA plants in the Netherlands, China and Japan, and operates an organic peroxide and metal alkyls production site in Mahad, India.

Towards close of trade on Tuesday, Atul Ltd was trading at Rs8,373 per piece up by Rs101.55 or 1.23% from its previous closing of Rs8,271.45 per piece on the BSE.

Related Story

Open Free Demat Account (Rs699)