Incorporated as a private limited company in Dec.'93, Shayona Petrochem was converted into a public limited company in Jun.'94. It is promoted by Bhagwandas Patel and Lalit Patel. The company set up facilities to produce spray oils and white oils and other derivatives from high-speed diesel oil. It proposed to set up the production capacity in two phases. Phase-I has an installed capacity of 1500 ltr ph, which commenced production in Sep.'95. In phase-II, the capacity was to be increased to 6000 ltr ph. The project is under implementation. The plant is located at Sujanpur (Mehsana district), Gujarat. During the year 1999-2000, the second phase of the project is still under implementation. Since there is a good demand for the products of the company, it expects to do better during the current year with the maximum utilisation of the plant capacity.