Tokyo, Dec 7, 2011 (JCN) - Kaneka Corp., Meghmani Organics Ltd (MOL) and Mitsui & Co. Ltd entered into an agreement to form a new joint venture (JV) company to conduct feasibility study of the construction of chlorinated polyvinyl chloride (CPVC) production facility in Dahej, Gujarat, India. The project is aimed to accelerate development of CPVC business in India.
The new company, "Trience Speciality Chemicals Pvt. Ltd" (Investment ratio: 41% for Kaneka, 39% for Meghmani, and 20% for Mitsui) is scheduled to start manufacturing in 2014 with an initial annual production capacity of 20,000 metric tons - this is expected to be scaled up in relatively early stages of production. Total investment amount including the one to be scaled up in relatively early stages of production will be around $120 million.
CPVC is being used as the raw material for hot water pipes, fire sprinkler pipes, and industrial pipes, among others, and its demand has been growing globally. Especially in India, galvanized iron pipe has been replaced by CPVC pipe in these fields, and such trend has been accelerating in recent years.
Kaneka, which established Kaneka India Pvt. Ltd in 2010, has been aiming to build a CPVC plant in India. The company has been a pioneer in the CPVC business in Japan, the United States, and other Asian countries for years, and has CPVC plants both in Japan and in the US (Kaneka Texas Corp.) with its total global capacity reaching 46,000 metric tons per year.
Copyright © 2013 JCN. All rights reserved. A division of Japan Corporate News Network KK.
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