Meghmani acquires 90,000 sq m plot in Dahej SEZ for new plant

Date:10-26-2010


Pesticide-maker Meghmani Organics today said it has acquired 90,000 sq metres of land at the Dahez SEZ in Gujarat through a subsidiary to set up a pigments manufacturing plant at an estimated investment of Rs 60 crore.

The subsidiary, Meghmani Chemtech, in which MOL has a 60 per cent stake, will produce different pigments, namely CPC Blue, Beta Blue and Alpha Blue. These find applications in the manufacture of agrochemicals within the facility, Meghmani Organics (MOL) said in a statement to the stock exchanges.

"Meghmani Chemtech has performed the Bhoomi Pujon (groundbreaking ceremony) on September 1. The cost of the project is estimated to be around Rs 60 crore and (it) will be commissioned by April, 2011," it said.

MOL Executive Director Anand Patel said the company is already producing CPC Blue, Beta Blue and Alpha Blue at its existing pigment plant and has developed the indigenous technology to manufacture the same. The technology will be readily available to Meghmani Chemtech, he said.

MOL had recorded a Rs 752 crore turnover in 2009-10, out of which 63 per cent was garnered from exports. Its revenue in the first quarter of the current fiscal stood at Rs 233 crore.