Balaji Amines Limited ("Company"), announces commissioning of a greenfield project along with construction of 2 new plants. The Phase 1 of 90-acre Greenfield Project (Unit IV) has been completed and the DMC/PC and PG Plant will be ready to commence commercial production by the end of September 2022. This is estimated to result in annual production capacity of 15,000 tons of Di-methyl Carbonate (DMC)/Propylene Carbonate (PC) and 15,000 tons Propylene Glycol (PG). We believe this will also provide a strategic advantage of being the sole manufacturer of Di-methyl Carbonate (DMC) and Propylene Carbonate (PC) in India. Currently the annual domestic demand of Di-methyl Carbonate (DMC) is about 8,000 to 9,000 tons with main usage in Pharma and others, Propylene Glycol (PG) is about 170,000 to 180,000 tons & Propylene Carbonate (PC) is about 3,000 to 4,000 tons which are completely met by imports. DMC is also used in the production of Polycarbonate and Lithium Batteries - the consumption of which will exponentially grow in India backed by various government initiatives. In the first year of operations, the company is confident of achieving capacity utilization of 60-70% at the DMC/PC and PG plant. In addition to commencement of the installed capacity mentioned above, the company has also started construction in Phase 2 of Greenfield Project (Unit IV) for below 2 plants. The Environmental Clearance for the same has been received well in advance. The company expects to start operations at these state-of-the-art manufacturing facilities around the closure of this current financial year. The existing installed capacity of Methyl Amine is 48,000 MTPA which is expected to increase to 88,000 with proposed additional capacity of 40,000 MTPA. The existing installed capacity of DMAHCL is 25,000 MTPA which will increase to 32,500 MTPA with proposal for additional capacity of 7,500 MTPA. Commenting on the developments Mr. D. Ram Reddy, Managing Director, said "We are proud to announce successful completion of Phase 1 of the greenfield project. This will enable us to explore greater opportunities as we will be the sole supplier for DMC/PC in India, which we believe has good demand in domestic market and will also have potential for exporting to Global markets. Further, we are now gearing up for the expansion in Phase 2 of Greenfield Project (Unit IV), for which construction activities are in full swing. The products Methyl Amine & DMAHCL will be manufactured with an upgraded / improved technology which will enable us to compete in the global market. The Capex for these plants would be around Rs. 200 to 220 crore which will be funded entirely by Internal Accruals. Currently Balaji Amines Ltd is a zero-debt company on a standalone basis. We are excited to undertake further strategic initiatives to add incremental capacity and build upon our strength."
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