Omkar Chemicals invests $27million capacity expansion

Omkar Chemicals invests $27million for capacity expansion

10:06 AM, 19th November 2012
Omkar Chemicals invests $27million for capacity expansion
Pravin S Herlekar, Chairman and Managing Director, Omkar Speciality Chemicals.

BADLAPUR, INDIA: Omkar Speciality Chemicals Ltd, a leading specialty chemical manufacturer with about 80 diversified products in its portfolio, has chalked out Rs 150 crore ($27million) capital expenditure, to increase its production capacity to 3,650 from 950 million tonne per annum. According to Pravin S Herlekar, Chairman and Managing Director, Omkar Speciality Chemicals, increased commercial production in all its plants is set to commence within 18 months.

The production capacity of its Badlapur plant in Thane is set to be increased from the existing 1,700 tonne to 3,650 tonne. The company’s recently acquired plant in Ratnagiri is set to attract investment of Rs 80 crore ($14.4 million) for around 7,800 tonne of new speciality chemicals. The company is scheduled to commence commercial production at this plant by April 2013.

Its plant in Raigad district, which produces anthelmintic veterinary active pharmaceutical ingredients with an annual capacity of 120 tonne is expected to see Rs 25 crore of investment to increase its production to 500 tonne.

With the acquisition of LASA Laboratory in April 2012, the company has also entered manufacturing of veterinary APIs for de-worming cattle. Omkar has three manufacturing units in Thane district and plans to set up a fourth one in the same area to meet capacity needs.

The company is planning to foray into the manufacturing of APIs with application in high growth end therapeutic markets. It is indigenously developing new chemical processes for manufacturing these products, with an aim to making these cost-effective and environmental-friendly. The end-therapeutic application market for the planned APIs is estimated to be around $50 billion globally and is growing at an average rate of nine per cent.

© Business Standard News



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