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IG Petrochemicals Ltd — Capital/Financing Update 2021
Nov 1, 2021
63230_rns_2021-11-01_3464d560-510f-49a1-a67e-c06048a9a5f4.pdf
Capital/Financing Update
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SECT/1042
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1[st] November, 2021
| BSE LimitedCorporate Relationship Department1stFloor, P J TowersDalal StreetMumbai - 400 001Scrip Code: 500199 | The National Stock Exchange of India Ltd.Exchange PlazaBandra Kurla ComplexBandra (East)Mumbai – 400 051Scrip Code: IGPL |
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Dear Sir,
Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
We refer to our expansion plans as intimated vide our letter dated 9[th] February, 2021 and wish to inform you that the Board of Directors of the Company at their meeting held today have approved the expansion of Phthalic Anhydride with a capacity of 53,000 MTPA at our existing plant location, Taloja (brownfield expansion).
The details under Regulation 30 is enclosed herewith as Annexure-I.
Kindly take the same on your record.
Thanking you,
Yours faithfully, For I G Petrochemical Limited SUDHIR Digitally signed by SUDHIR RAMDHANI RAMDHANI SINGH SINGH Date: 2021.11.01 18:59:31 +05'30' Sudhir R Singh Company Secretary
Encl.: As above
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Annexure-I
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– Disclosure under Regulation 30 Proposed expansion of Phthalic Anhydride Plant
| Sr.No. | Particulars | Disclosures |
|---|---|---|
| 1. | Existingcapacity | ~ 2,22,000 MTPA |
| 2. | Existingcapacityutilization | 90% |
| 3. | Proposed capacity addition | Brownfield Expansion of PhthalicAnhydride upto 53,000 MTPA at Taloja. |
| 4. | Period within which the capacity is tobe added | Approx. 24 – 30 months |
| 5. | Investment required | Approx. Rs. 345 crores |
| 6. | Mode of financing | ECB/ Term Loans and Internal Accruals |
| 7. | Rationale | The demand for Phthalic Anhydride indomestic market is expected to increasedue to Govt. focus on InfrastructurespendinganddemandgrowthindownstreamproductslikePaints,Plasticizers¸Polyvinylchloride,Unsaturated polyester resins (UPR) etc.,led by good GDPgrowth in India. |
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