IOL Chemicals and Pharmaceuticals Ltd (IOLCP), one of the largest producers of Bulk chemicals, intermediate spatiality chemicals and APIs in India, has announced that it has commenced the manufacturing operations of Mono-chloro Acetic Acid (MCA) and Acetyl Chloride at its new manufacturing units with capacities of 7200 TPA and 5200 TPA respectively, making it the second largest producer of these chemicals in the country. Both of these chemicals will be used by the Company as raw materials for its most popular pharmaceutical product, Ibuprofen. This development has made IOLCP the only ibuprofen manufacturer in India to have its own captive raw material production unit. Additionally, the enhanced production capacity of ibuprofen from 3600 TPA to 6000 TPA will make IOLCP the largest producer of the bulk drug (Ibuprofen) in India by the end of this year.
IOLCP is also installing another captive co generation plant of 4 MW, which will take its cogeneration capacity to 17MW to meet the increased energy demand of its production units. The whole project is expected to be completed by the end of December, 2009.
According to Mr. R K Thukral, Executive Director, IOL Chemicals and Pharmaceuticals Ltd, "We are extremely proud to announce that IOLCP is now virtually se reliant in terms of Ibuprofen en manufacturing. We have our own raw material and will soon have our own power generation facility to support the new plant. As such, we will not need to depend upon suppliers for the raw material and will also not be virtually free from the vagaries of the market and price trends. Moreover it will facilitate the company to be more cost effective in the production of Ibuprofen."
IOLCP already exports its various products to many countries across the world including Argentina, Brazil, China, Denmark, Germany, Singapore, Hong Kong, Kenya, Malaysia, Peru, Egypt etc. IOLCP was also recently accorded the coveted status of Star Export House in accordance with the provisions of the Foreign Trade Policy, 2004-2009 by the Ministry of Commerce and industry, Department of Commerce, Government of India, which makes the company eligible for many privileges that will help enhance its business and exports revenues.
As part of its Backward Integration plan, IOLCP is going to commence a new plant of Isobutyl Benzene (IBB) having annual capacity of 6000 MT to ensure ready availability of the most important raw material of Ibuprofen. The commercial production in this plant is expected to commence within a couple of months. IOLCP also plans to increase the production capacity of Acetic Acid from 50000 TPA to 75000 TPA, Ethyl Acetate from 33000 TPA to 36000 TPA and that of Acetic Anhydride from 12000 TPA to 18000 TPA.
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Union Budget