Companies

Navin Fluorine inks ₹2,900-cr multi-year contract with a global company

Rajesh Kurup Mumbai | Updated on February 25, 2020 Published on February 25, 2020

The capex and project will be executed through its wholly-owned subsidiary, Navin Fluorine Advanced Sciences

Navin Fluorine International Ltd, a manufacturer of fluorochemicals, has signed an ₹2,900-crore ($410 million) contract to manufacture and supply of a high- performance product in fluorochemical family for a global company.

The contract is for a period of seven years, and this product is not part of Navin Fluorine’s existing product portfolio. The capex and project will be executed through its wholly-owned subsidiary, Navin Fluorine Advanced Sciences Ltd (NFASL), the company said in a statement.

Navin Fluorine, through NFASL, will invest ₹365.50 crore ($51.5 million) in setting up a facility and about ₹71 crore ($10 million) to set up a captive power plant. The facility will be located at Dahej, Gujarat, and will be funded through a mix of internal accruals and debt. The supplies are expected to commence from the fourth quarter of FY22.

“This is beginning of our entry into higher value HPP segment, and we shall continue to add more products in this segment,” Radhesh Welling, Managing Director of Navin Fluorine said.

Navin Fluorine operates an integrated fluorochemicals complex with manufacturing locations at Surat, Dahej and Dewas and R&D centres in Surat and Manchester (UK).

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Published on February 25, 2020
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