SRF plans Rs 394 cr expansion for packaging and refrigerant biz

SRF Ltd, a manufacturer of chemical-based industrial intermediates, will spend Rs 394 crore on three projects involving expansion of its packaging film capacity, setting up of a new pharma grade manufacturing & filling facility and modification of its refrigerant facility.
 
SRF will set up a new greenfield packaging film line in the domestic tariff area at a new location near the company’s Indore plant in SEZ at an estimated cost of Rs 356 crore. SRF’s packaging films business, which has plants in Indore and Kashipur (Uttarakhand), has emerged as one of the leading manufacturers of bi-axially oriented polyethylene terephthalate (BOPET) and bi-axially oriented polypropylene (BOPP) films in the country.
 
In order to consolidate its position in the propellant market for medical applications, SRF will invest Rs 26 crores in building R-134a pharma grade manufacturing and filling facility as per cGMP requirement at Dahej, Gujarat. It is interesting to note that, the company in January 2015 entered into a deal to acquire Dupont’s global business of Dymel HFC 134a pharma and to receive the technology and know-how for setting up SRF's own HFC 134a pharma grade manufacturing facility. With demand for eco-friendly propellant expect to grow, SRF is eyeing to play a dominate role in the HFC 134a pharma grade market, as it is the only Indian supplier of the product.
 
As per the capex plan, SRF will spend Rs 12 crore for converting the HFC 134a plant at Bhiwadi (Rajasthan) into a swing plant to produce both HFC 134a and HFC 32.
 
Apart from technical textiles business, in which SRF enjoys a global leadership position, the company has significant presence in refrigerants, engineering plastics, industrial yarns, polyester films and specialty chemicals.