The project, involving an outlay of Rs 320 crore, was appraised by IDBI Bank Limited. Of this, Rs 192 crore is term loan and the balance is to be met from internal accruals and equity. IDBI Bank has syndicated the rupee term loan of Rs 54 crore while the State Bank of India, State Bank of Hyderabad and Andhra Bank each subscribed Rs 46 crore, the company stated in a release on Tuesday.
The project envisages increasing the capacity from the present 39,000 metric tonne per annum (mtpa) to 73,000 mtpa. Further, the optimisation-cum-modernisation project uses the latest technology, resulting in improved plant efficiencies and also enabling production of all the three products, 2-Ethyl Hexanol, N-Butanol and I-Butanol simultaneously, as compared with the hitherto practice of producing one product at a time, the release added. The enhanced capacity is expected to be commissioned during the last quarter of the current financial year.
