Chemplast Sanmar Ltd, the flagship of the Chennai-based diversified Sanmar Group, has entered its 50th year of operations.
Speaking at an event in Chennai to start the golden jubilee celebrations, Sankar, Chairman, Sanmar Group, announced a Rs 425-crore expansion-cum-diversification plan.
Addressing reporters, he said the company plans to diversify into manufacture of hydrogen peroxide. It will also set up a unit for production of chlorinated PVC (CPVC) through a joint venture with a French company.
“Both the projects have been conceived based on the concept of value addition and will be funded through internal accruals and some borrowings”, he said.
The company’s Deputy Chairman Vijay Sankar said, “The Hydrogen peroxide project is a local market specific one. We had an opportunity to acquire the assets of one of the existing producers. However, it is a forward integration project. We generate hydrogen already. This Rs 100 crore project will come up in Mettur as most of the customers, the textile units, are located in nearby districts.”
