Ahmedabad: The largest Indian Phenol and Acetone producing plant of Deepak Phenolics Ltd, situated in Gujarat has that began operation almost five months ago, would decrease the import figures of these chemicals by around 60% and in longer run was likely to save around $ 400 million of valuable foreign exchange each year.

Addressing a press conference here CMD of the company wholly owned subsidiary of Deepak Nitrite, Deepak Mehta today informed this.

He said that before the commencement of the operation of his plant set up in Dahej in Gujarat with an investment of Rs 1400 crores which has production capacity of 200,000 Metric Tons Per Annum of Phenol and 120,000 MTPA of Acetone, the only other two plants in India including one of government sector were only catering to 22% of the total demand of around 300,000 MTPA. Now around 80 to 82% of this demand is being produced in India.

“Deepak Phenolics (DPL) achieves major milestone towards the manufacture of Phenol and Acetone with average capacity utilisation of around 80% and having achieved peak capacity utilization of 100% during the last quarter of FY 2019 contributes INR 927 Cr. to consolidated turnover of INR 2,715 Cr. This mega, world-class plant is eight times bigger than all existing facilities and aligned with the Make in India initiative of Government of India,’ he said.

“Our Phenol and Acetone and upcoming derivative projects are all -a step towards building India’s Chemical Security with import substitution. At full capacity and in long run we anticipate that Deepak Phenolics will save around US$ 400 million in value of imports for the country. Besides, a large number of small and medium enterprises will also benefit due to local availability of Phenol and Acetone. Further, this will lead to quantum leap in Deepak Group revenue in the ensuing years, while additional DPL turnover propelling consolidated quarterly revenue past the 1,000 Cr. mark is just the beginning”, he added.

Phenol and Acetone market is expected to grow at 8-10%, and has wide applications across industries, such as laminates, plywood, auto, foundry, pharmacy, agrochemicals, rubber chemicals, paints, resins.

The state-of-the-art, largest, IoT enabled, with latest technology of KBR and Honeywell–uop (technology partner) Phenol/Acetone Plant located at Dahej (PCPIR zone) in the State of Gujarat, meeting 2/3rd of India’s demand has the lowest thermal footprint and over 12.6 million safe man hour record. The plant, based on cutting-edge technology, is energy efficient and has transport safety and emergency response program (TERP) as part of advanced logistic management system, he said.

DeshGujarat