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Navin Flourine International Limited on Tuesday commenced manufacturing at its new manufacturing plant, setup with an investment of ₹600 crore at Dahej Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in Bharuch.
The plant has started manufacturing of Honeywell's Solstice zd.
Solstice zd is a hydrofluoroolefin (HFO) that has various applications, including blowing agents for foam insulation and refrigeration liquid for chillers.
The HFOs are the fourth-generation of fluorinated materials that are used as refrigerant, blowing agents, propellants, and solvents. They have ultra-low global warming potentials, and are non-ozone-depleting.
Gujarat Chief Minister Bhupendra Patel on Tuesday inaugurated the plant virtually in the presence of Ken West, President of Honeywell Advanced Materials; Rajesh Rege, President of Honeywell India and Vishad Mafatlal, Executive Chairman of Navin Fluorine and Radhesh Welling, Managing Director of Navin Fluorine.
The portfolio of next generation products has a global warming potential (GWP) of one and no ozone depletion potential, thereby helping customers lower their carbon footprint and improve energy efficiency without sacrificing end-product performance.
"The opening of this manufacturing facility with Navin Fluorine will help us increase our global supply of Solstice zd and support our customers’ environmental goals. This reflects our continued investment and commitment in India," said Rajesh Rege, President of Honeywell India.
"Navin Fluorine has managed to successfully complete this large project through three tough phases of the Covid-19 pandemic. Setting up this plant in around two years is a demonstration of our strong technical capabilities and our commitment to growing our partnership with Honeywell," said Radhesh Welling, Managing Director of Navin Fluorine.
Navin Flourine shares ended on Tuesday at ₹3729.70, down 1.4 per cent from previous close on the BSE.
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