Meghmani Finechem commissions CPVC resin plant in Gujarat

Meghmani Finechem Ltd (MFL) on Monday said it has commissioned a CPVC resin plant with an annual capacity of 30,000 tonnes at Dahej in Gujarat.

Chlorinated polyvinyl chloride resin (CPVC resin) is used in manufacturing CPVC pipes and fittings. Considering its features, CPVC is widely used for domestic (households) and industrial purposes.

MFL Chairman and Managing Director Maulik Patel said: ”… we have commissioned India’s largest CPVC resin plant of 30,000 tonnes per annum.” Production of CPVC resin has started and it is under approval process with various customers, he said in a statement.

It would take around three months for approval and stabilization process. The company expects volume of CPVC resin should pick from third quarter of the current fiscal onwards and should reach optimum capacity utilisation by first quarter 2023-24, he added.

CPVC resin demand in India is around 1,40,000 tonnes per year, Meghmani Finechem said and added, this demand is expected to grow by around 13 per cent CAGR over the next five years.

Approximately 95 per cent of the CPVC resin demand is met through imports.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)