I G Petrochemicals approves brownfield expansion

The Board of Directors of I G Petrochemicals Limited at their meeting held on November 1, 2021, have approved the expansion of Phthalic Anhydride with a capacity of 53,000 MTPA at the existing plant location, Taloja (brownfield expansion) at an outlay of approx. Rs 345 crores.

The demand for Phthalic Anhydride in the domestic market is expected to increase due to Govt. focus on Infrastructure spending and demand growth in downstream products like Paints, Plasticizers Polyvinyl chloride, Unsaturated polyester resins (UPR), etc., led by good GDP growth in India. The funding will be done through ECB / Term Loans and Internal Accruals.