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Camlin Fine Sciences plans to set up new manufacturing facility at Dehaj in Gujarat with an investment of ₹193 crore.
The plant will have annual capacity to produce 9,000 tonnes of Hydroquinone and 6,000 tonnes of Vanillin.
Ashish Dandekar, Managing Director, said the new plant would help the company become a major supplier of Diphenol and Catecholand Vanillin as well as its derivative and down-stream products.
The company has already acquired the land for ₹8 crore and has applied for environment clearances.
The basic engineering work has started and the plant would be commissioned by September 2017, he said.
Camlin is in the process of setting up new subsidiary companies in China and Mexico to initially act as warehousing hub and market its products.
The company’s consolidated net profit nearly doubled to ₹55 crore (₹29 crore) in the financial year ended March 2015. Net sales were up 10 per cent at ₹568 crore (₹517 crore).
Shares of the company were down one per cent at ₹86 on Tuesday.
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