You are here: Home » Companies » News
Business Standard

Fairfax-backed Sanmar set to invest $220 million in chemicals business

Chemplast is Sanmar's flagship company and one of the major players in the chemicals business for over 50 years

T E Narasimhan  |  Chennai 

rupee
Photo: Shutterstock

Fairfax-backed group has lined up around $220 million for projects in Tamil Nadu.

Fairfax’s investment in Sanmar’s chemicals business, which accounts for around 70 per cent of the latter’s operations, is housed within three firms —Chem­plast (Chemplast), Speci­ality Chemicals, and one in Egypt,

is Sanmar’s flagship company and one of the major players in the chemicals business for over 50 years. Sunmar’s capex plan includes increasing suspension PVC capacity in Cuddalore to 600 kilo tonnes per annum by 2023 and to 900 ktpa by 2025 at an investment of $186 million from 300 ktpa now.

The estimated incremental annual earnings before interest, tax, depreciation and amortisation (EBITDA) after the expansion would be $162 million.

First Published: Sat, March 16 2019. 01:02 IST
RECOMMENDED FOR YOU