RCF starts methanol production at Trombay unit; stock up over 2%

The company said that it has the capacity to produce 242 MT of Methanol per day.

Sep 10, 2020 01:09 IST India Infoline News Service

RCF, Rashtriya Chemicals & Fertilizers
Rashtriya Chemicals and Fertilizers Limited has started the production at its Methanol Plant at Trombay Unit, Mumbai from September 8, 2020. With Methanol production, the company shall no longer be dependent on imports for its own requirement and will also be in a position to satisfy the needs of other Methanol dependent industries.

Methanol is widely being used in the production of pharmaceuticals, pesticides, dyestuff etc. With very limited domestic production, the requirement was being met until now with imports.

“The company said that it has the capacity to produce 242 MT of Methanol per day. Till now, it has been importing Methanol for its internal consumption and also for trading purposes. With this, the company has entered into the select list of Methanol producers in the country, providing alternate to import and thus contributing towards Government's ambitious 'Atmanirbhar Bharat' Abhiyaan,” Mumbai based company informed the exchanges on Wednesday.

In the endeavor to support self-sufficiency in fertilizers, the company has ramped up the production of its popular complex fertilizer, SUPHALA 15: 15: 15 by enhancing its production from 1500 MT per day to 2200 MT per day. As a result, the production of SUPHALA increased by 17.3% in the month of August 2020 as compared to August 2019.

Rashtriya Chemicals & Fertilizers Ltd is currently trading at Rs46.55, up by Rs1.05 or 2.31% from its previous closing of Rs45.50 on the BSE.

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