Kolkata-headquartered Dhunseri Petrochem and Tea Ltd plans to take its downstream petrochemicals facility in Egypt on stream by July this year.
The Egypt unit is being set up at an estimated investment of nearly Rs 900 crore.
According to C.K. Dhanuka, Executive Chairman, Dhunseri, the greenfield PET (Polyethylene terephthalate) resin plant, with an annual capacity of 430,000 tonnes will become operational in two phases.
While the first phase, of 215,000 tonnes capacity, will be operational in early July; the second phase (similar capacity) is expected to be ready around August.
“With the Egypt facility we will cater mainly to Africa, Europe and the US,” Dhanuka told Business Line .
The Egypt project had suffered a two-month setback because of the civil unrest in the region followed by a delay in supply of product lines from India. The delay, however, has not had any major impact on the project cost.
India unit
As a part of its Rs 1300-crore expansion plans, the company has recently made operational its second PET resin facility at Haldia in West Bengal, at an investment of Rs 400 crore.
With four production lines (two each in Haldia and Egypt), Dhunseri is eyeing a turnover of nearly Rs 8,000 crore by the end of next fiscal (2013-14). (The company’s turnover was nearly Rs 2000 crore in 2011-12)
“Currently, we are consolidating our position and do not have any plans for new capital expenditure over the next two to three years,” Dhanuka said.
IT-Sez plans
According to him, Dhunseri is likely to complete the first phase of its IT-SEZ (special economic zone) at Bantala — on the city’s eastern fringes — by September.
To be built in two phases, at an expected investment of Rs 150 crore, the IT-SEZ will have nearly 750,000 sq feet of space available.
“We are eyeing rental incomes from the SEZ. Two major IT companies have expressed interest in setting up shop here,” Dhanuka said.
Once operational, the first phase is expected to add rental incomes of nearly Rs 10 crore to the company’s topline.
Work on the second phase of the IT-SEZ has begun.
abhishek.l@thehindu.co.in