The first phase of the new multi-purpose production block project, which was set up at an investment of around Rs.300 Crores by the Custom Manufactured Chemicals Division of Chemplast Sanmar Limited, was dedicated by Mr Vijay Sankar, Chairman of the Company, in the presence of the Board of Directors.
The new production block is designed and constructed based on best-in-class safety standards for such a facility. The block is fully automated with a state-of-the-art automation system and also incorporates various sustainability initiatives to reduce water consumption.
Project activities related to the second phase of the production block are also underway and are expected to be completed over the next 8 months.
Speaking on the occasion, Mr Vijay Sankar commented that - "This block was safely constructed in a record time period and demonstrates Chemplast Sanmar's ability to build and bring on-stream a multi-purpose production facility that meets the highest global standards. My sincere thanks to the project engineering and operations team that worked tirelessly over the past 12 months to get us to this moment. This new block is in line with our commitment to grow in the Custom Manufactured Chemicals business and we are pleased to offer this world- class asset to meet our customers' needs".
The Custom Manufactured Chemicals Division manufactures advanced intermediates and active ingredients for global agrochemical, pharmaceutical, and fine chemical innovators. Led by a qualified team of chemists and engineers, the division has invested in state-of-the-art production blocks, Pilot and R&D facilities to handle a wide range of chemistries and processes.
Shares of Chemplast Sanmar Ltd was last trading in BSE at Rs. 436.40 as compared to the previous close of Rs. 453.50. The total number of shares traded during the day was 22290 in over 1768 trades.
The stock hit an intraday high of Rs. 465.00 and intraday low of 423.40. The net turnover during the day was Rs. 10014098.00.