Chemplast Sanmar, a manufacturer of chemicals and allied products, plans to earmark a capital outlay of around Rs 680 crore towards expansion of its Custom Manufactured Chemicals (CMC) Division in Tamil Nadu.
The custom manufacturing chemical division (CMCD) of the company has 1,068 tpa installed capacity at Berigai, near Hosur.
The expansion will be carried out in the next 15 months. Phase-1 of the multi-purpose custom manufacturing block is expected to be completed by Q2/FY24.
Moreover, the company has also signed a letter of intent (LoI) with a global innovator to supply an advanced intermediate for a recently launched active ingredient.