Mitsubishi Chem subsidiary bets big on Indian market

Font Size

Print

Feedback

Email

Discuss

• Discount UK Shopping

Related Articles

Iran continues to import fuel from RILJet Air passenger traffic up 4th straight monthPTC arm raises Rs 100 cr

Kolkata: MCC PTA India Corp Pvt Ltd (MCPI), the Indian subsidiary of Japan ’s Mitsubishi Chemical Corporation (MCC), will look to supply the entire output from its expanded capacities in Haldia to the Indian market. It has invested Rs 1,920 crore to expand plant capacity to 1.27 million tonne per annum.

After inaugurating phase 2 of the plant in Haldia on Friday, delayed by at least a year, Yoshi Mitsu Kobayashi, president, Mitsubishi Chemical Holdings Corporation (MCHC), the holding company of MCC, said by 2010 the demand for PTA – purified terephthalic acid is primarily used in polyester production -- in the Indian market will grow to 3.6 mt per annum.

The company is planning to increase revenue from its largest PTA production unit here to Rs 5,000 crore from the present Rs 1,600 core by 2010-11, Kobayashi said.

“We are planning to treble the revenue to Rs 5,000 crore, taking into account the current market price of PTA at $ 900 per tonne,” he said.

The Haldia facility is the company’s largest single-line production capacity unit globally, churning out 1.27 million tones of PTA per annum.

The company’s largest PTA production unit is in Korea at 1.6 million tonne, but that facility has a four-line production capacity.

“We are also exploring opportunities in other sectors like manufacturing solar photo-voltaic cell, genetic pharmaceuticals, information and electronic applications in India . We are going to launch a propylene-based compound manufacturing plant at Nimrana in Rajasthan in November. This plant will cater to the automobile industry,” he said. It will have a total capacity of 10,000 tonne.