According to Grasim Industries, the 100,000 metric tonne chlorinated polyvinyl chloride (CPVC) resin facility in Vilayat, Gujarat, will begin construction in the latter half of the year 20202.
Prior to that, on October 30, 2020, Grasim Industries and Lubrizol Manufacturing India signed a legally binding contract to build a plant in India that will produce and supply 100,000 metric tonnes of CPVC resin.
The first phase of the plant was planned to commence production in the year 2022. However, the unprecedented global COVID outbreak and its consequences, such as supply chain disruptions, prevented project work from starting.
The project implementation plan is under finalisation, and the company said that it will share the further developments including commissioning timelines in due course.
Grasim Industries, a flagship company of the Aditya Birla Group, is a leading diversified player with leadership presence across many sectors. It is a leading global producer of viscose staple fibre and viscose filament yarn, the largest chlor-alkali, advanced material, linen yarn and fabrics producer in India. The company recently has entered paints business and setting up six plants across pan India locations.
The Aditya Birla Group company’s consolidated net profit declined 4% to Rs 1,369 crore in Q4 FY23 as against Rs 1,419 crore recorded in Q4 FY22. Revenue from operations grew by 16% YoY to Rs 33,462 crore in the quarter ended 31 March 2023.
he scrip fell 0.29% to Rs 1,775.50 on the BSE.