Navin Fluorine to invest Rs 195 crores at Dahej to set up Multi-Purpose Plant

Navin Fluorine International Limited on Wednesday announced that its Board of Directors has approved capital expenditure with an outlay of Rs 195 crore for setting up of a Multi-Purpose Plant (MPP) at Dahej, Gujarat.

The CapEx will be undertaken by its wholly-owned subsidiary, Navin Fluorine Advanced Sciences Limited ('NFASL') at Dahej, Gujarat. The CapEx will be funded through a mix of internal accruals and debt.

The new capacity is expected to come on stream during H1 of FY23 and will create opportunities for new products in life science and crop science sectors in the Specialty Chemicals business.

Commenting on this, Mr. Radhesh Welling, Managing Director of Navin Fluorine International Ltd. said, "This investment will lay a foundation for the next phase of growth of our Specialty Chemical business. It will help us enhance our product offerings and strengthen our customer relationships along with providing building blocks for future growth."

Navin Fluorine International Ltd. is one of the largest manufacturers of fluorochemicals in India. It belongs to the Padmanabh Mafatlal Group - one of India's oldest industrial houses. It has four strategic business units: Refrigeration Gases, Inorganic Fluorides, Speciality Fluorides & Contract Research and Manufacturing Services (CRAMS) and is one of the few companies with experience, capability and expertise in fluorination chemistry.