Chemcon Speciality commences production at P9 Unit at Manjusar ; stock rallies ~6.5%

29 Sep 2022 , 09:15 AM

Chemcon Speciality Chemicals Limited has announced that commercial production at its P9 plant in Manjusar, Gujarat, has begun successfully. At the P9 plant, the corporation has added a capacity of 2,400 MTPA of Bromo Benzene. The business is also considering adding a pharma chemical, Guanine, to the same plant.

With an investment of Rs10 crore, the business has commissioned an approximately 2.1 MW solar power facility in Dabhoi, Vadodara. This solar power facility will be utilised for captive consumption, reducing reliance on nonrenewable energy sources.

“Product innovation has been the cornerstone of our company’s success, and we are currently examining further possibilities to add new product Guanine at the same P9 unit. We are seeking final clearances from local authorities and will notify you soon as we have them,” commented Kamal Aggarwal, Chairman & MD.

With this new capacity expansion, the company is well positioned to capitalize on future opportunities.

At around 9.18 AM, Chemcon Speciality was trading at Rs444 up by 6.45% from its previous closing of Rs417.10 on the BSE.

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