 "GSFC hopes to commission nylon project by August")
The new nylon plant would have a capacity of 15,000 tonne per annum and is coming up at a cost of Rs 125 crore.
“Our new nylon plant at Vadodara will be ready by August this year. GSFC is also setting up a new facility for manufacture of water soluble fertilisers at the same location at an investment of Rs 45 crore. Besides, we are coming up with a new phosphoric acid plant at Jamnagar,” said S K Nanda, chairman and managing director, GSFC.
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To cater to the rising demand, the company has already launched three expansion programmes that includes 10 new projects at a combined cost of Rs 10,000 crore.
The projects lined up include expansion of DAP (di-ammonium phosphate) plant a Sikka in Jamnagar district to 500,000 tonne a year, nylon project, new project for water soluble fertilisers and melamine (raw material for paints, laminates and electrical switchboards) project at Vadodara. Also, GSFC proposes new plants for urea, ammonia, caprolactam (raw material for manufacturing of nylon), melamine and nylon-6, all at Dahej.
With the commissioning of these new projects, GSFC hopes to expand its turnover to Rs 10,000 crore by 2017-18 from Rs 6000 crore currently. Fertilisers contribute 60 per cent to the company’s turnover and industrial products account for the rest 40 per cent.
GSFC has expanded its operation beyond Indian shores by forging a joint venture (JV) called Tunisian Indian Fertilisers Ltd. The company is a JV between GSFC and Coromandel International. GSFC has also acquired 19.98 per cent stake in Canada based Karnalyte Resources Inc.