Manali Petrochemicals Ltd announces Inauguration of expanded Propylene Glycol Plant

Manali Petrochemicals Limited (MPL), a leading Petrochemical manufacturing company and part of AM International, Singapore, has marked a significant milestone by expanding its Propylene Glycol (PG) Plant. The newly established, state-of-the-art facility will commence operations upon receipt of the Consent to Operate (CTO) from the Tamil Nadu State Pollution Control Board.

With this expansion, MPL will increase its Propylene Glycol production capacity by 50,000 tonnes per annum (KTPA), augmenting the existing capacity of 22,000 KTPA. This strategic initiative underscores MPL's steadfast commitment to the Government of India's "Make in India vision", bringing advanced manufacturing capabilities to the domestic market.

Mr. Ashwin Muthiah, Chairman of MPL and Founder Chairman of AM International, Singapore, commented: "I congratulate the MPL team on the capacity expansion and inauguration of the expanded Propylene Glycol plant today. The state-of-the-art facility demonstrates our commitment to sustainable expansion, meeting evolving customer expectations, and reinforcing our market leadership.

It also reflects our focus on local manufacturing and alignment with the government's 'Atmanirbhar Bharat' initiative - a step toward reducing import dependence and contributing to a resilient domestic economy."

By leveraging cutting-edge technology and harnessing the expertise of local talent, MPL aims to significantly reduce India's reliance on imported Propylene Glycol, meet the growing demands of domestic and industrial consumers. This expansion will further strengthen India's position as a competitive global manufacturing hub.

Shares of Manali Petrochemicals Limited was last trading in BSE at Rs. 68.20 as compared to the previous close of Rs. 68.30. The total number of shares traded during the day was 49836 in over 538 trades.

The stock hit an intraday high of Rs. 69.20 and intraday low of 67.17. The net turnover during the day was Rs. 3399840.00.

Source : Equity Bulls

Keywords

ManaliPetrochemicals INE201A01024 Inauguration PropyleneGlycolPlant