Manali Petrochemicals announced that it has finalised plans to triple its annual production capacity for propylene glycol from 22,000 tonnes to 70,000 tonnes in two phases at an investment of Rs 150 crore. The capacity is proposed to be expanded initially to 46,000 tonnes to be completed in 18 to 21 months and then by another 24,000 tonnes. The entire project will be handled in-house by redesigning the current facilities to ensure cost-effectiveness and the most prudent budgetary practices.
Once the project is completed, the company will meet a substantial part of the country's annual demand of about 100,000 tonnes of propylene glycol. Currently, a significant quantum is imported, which accounts for more than 75 per cent of the entire country's demand for propylene glycol. The substitution of imports will save significant import bills and will also propel India towards self-sufficiency in propylene glycol production capability.
The two major sectors where it is essentially needed are pharmaceutical industry and food industry. The revamp will also ensure environment-friendly practices. The company said that expansion will be fully funded via internal resources without recourse to any external borrowing.
