Navin Fluorine Plans To Expand Its Chemical Production Capacity
2017-12-21 Investments and Borrowings Chemicals & Petrochemicals Western India
Navin Fluorine International Limited has informed that the board of directors of the company at its meeting approved a capital expenditure of Rs. 115 Crores towards creating additional cGMP capacity and associated infrastructure at its Dewas facilities. The expanded capacity will be utilized for the Company's expanding Contract manufacturing activity for the value added complex chemicals and fluoro intermediates manufactured for innovator pharma companies across the globe. The investment in the expansion of the capacity is based on customer enquiries and discussions and in anticipation of future research pipeline of innovators. The new capacity addition will be similar to the Company's existing multiproduct plant configuration with multistage batch and products processing capabilities. The new capacity is expected to come on stream by June 2019. The capital investment of Rs.115 Crores will be funded through a combination of internal accruals and debt.