Navin Fluorine Bags New Global Contract Worth $410 Mn
Navin Fluorine International, one of the nation's biggest makers of fluorochemicals, has signed a $410-million (about ₹2,900 crore) contract with a worldwide organization to supply superior items in the fluorochemicals space throughout the following seven years. The organization said in a discharge the agreement will empower it to wander into the creation of another item. The capex and task for the new item will be executed through its entirely claimed auxiliary, Navin Fluorine Advanced Sciences Ltd (NFASL), it included.
The company, through NFASL, will contribute $51.5 million (₹365 crore) to set up a committed assembling office and about $10 million (₹71 crore) for a hostage power plant. The office will be situated at Dahej, Gujarat, and will be financed through a blend of inward gatherings and obligation. The provisions are relied upon to begin from Q4 of FY22.
Radhesh Welling, Managing Director, Navin Fluorine, said the agreement, the organization's biggest, will empower it to turn into the pioneer in the creation and conveyance of superior items inside the fluorochemicals space. The understanding will assist it with facilitating grow its item portfolio, he included.
Advanced by the Padmanabh Mafatlal Group, Navin Fluorine works one of the nation's biggest coordinated fluorochemicals buildings, in Surat.
- Bagged By:
- Region:Northern India
- Industry:Chemicals & Petrochemicals
- Value:USD 410 Million
- Published On:2020-02-25