Kanoria Chemicals & Industries Ltd inaugurates New Formaldehyde Manufacturing Plant in Ankleshwar, Gujarat

Kanoria Chemicals & Industries Limited (KCI) has announced the inauguration of a new Formaldehyde manufacturing facility at its existing manufacturing site in GIDC, Ankleshwar. The new state-of-the-art plant, with a capacity of 345 Metric Tons per Day (MTPD), will significantly boost KCI's total Formaldehyde production to 763 MTPD.

The facility was inaugurated in a ceremony attended by company leadership, including Mr. Sanjay Ojha, Chief of Manufacturing & Projects. The new unit, built with the latest Metal Oxidebased technology, will cater to the growing demand for Formaldehyde across various sectors including engineering wood, textiles, agrochemicals, pharmaceuticals, and more, both in the region and in export markets.

This investment aligns with the company's 'Vision-2030' to create value for stakeholders and maintain leadership in its product portfolio. The supportive policies of the Government of Gujarat have played a crucial role in the realization of this project. The inauguration of this new Formaldehyde unit underlines KCI's commitment to enhancing its production capabilities with environmentally responsible advanced technologies while meeting the growing demands of both domestic and international markets.

Shares of Kanoria Chemicals & Industries Limited was last trading in BSE at Rs. 126.75 as compared to the previous close of Rs. 127.50. The total number of shares traded during the day was 8836 in over 339 trades.

The stock hit an intraday high of Rs. 128.30 and intraday low of 125.20. The net turnover during the day was Rs. 1117931.00.

Source : Equity Bulls

Keywords

KanoriaChemicalsandIndustries INE138C01024 Formaldehyde ManufacturingFacility GIDC Ankleshwar