Balaji Amines zooms ~4% on completion of Phase 1 of Greenfield Project

15 Sep 2022 , 10:56 AM

Balaji Amines Limited (the firm) announces the completion of a greenfield project as well as the building of two more units.

Following this development, the company’s counter was trading 3.53% higher at Rs3,810, against the previous close of Rs3,680.15 on NSE.

The DMC/PC and PG Plant will be ready to begin commercial production by the end of September 2022, once Phase 1 of the 90-acre Greenfield Project (Unit IV) is completed.

This is expected to result in a capacity of 15,000 tonnes of Di-methyl Carbonate (DMC)/Propylene Carbonate (PC) and 15,000 tonnes of Propylene Glycol per year (PG).

Company believes that being the exclusive manufacturer of Di-methyl Carbonate (DMC) and Propylene Carbonate (PC) in India will give a strategic advantage.

Currently, the annual domestic demand for Di-methyl Carbonate (DMC) is approximately 8,000 to 9,000 tonnes, with primary applications in pharmaceuticals and other industries. While the annual domestic demand for Propylene Glycol (PG) is approximately 170,000 to 180,000 tonnes, and Propylene Carbonate (PC) is approximately 3,000 to 4,000 tonnes, both of which are met by imports.

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