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Niraj Petrochemicals Ltd.

BSE: 500454 Sector: Industrials
BSE 05:30 | 01 Jan Niraj Petrochemicals Ltd
NSE 05:30 | 01 Jan Niraj Petrochemicals Ltd

Niraj Petrochemicals Ltd. (NIRAJPETRO) - Company History

Incorporated on 3 Apr.'87, Niraj Petrochemicals was promoted by G Siva Prasad Reddy along with G K Reddy and others. The company manufactures maleic anhydride (inst. cap. : 6000 tpa) with the technical know-how from Lurgi, Germany. The major use of the product is in the manufacture of unsaturated polyester resin. These resins, which are compounds of maleic anhydride with glycols, such as propylene glycol, exhibit good thermal and electrical properties, excellent dimensional stability and high strength to weight ratio, when used in fibre glass reinforced plastic. Its other significant uses are in the synthetic lube oil additives and in chemicals for agriculture. It is also used in the manufacture of fumaric acid, in paper sizing resins, speciality polyesters and flavouring agents. The company made a rights issue in 1992-93. It has a marketing tie-up with Metallgesellschaft, Germany, to market 3000 tonnes of maleic anhydride in international markets. During the year 1995-96, the company has been declared as a sick company by BIFR due to the accumulated losses.