Tanfac Industries (TIL) is planning to infuse Rs 100 crore to scale up manufacturing capacity, which is likely to be operational by FY25. The capex will mainly be funded through internal accruals.
The expansion will increase the capacity of the hydrofluoric acid (HF) plant from 14,750 MTPA to 29,500 MTPA. TIL is a joint venture between Anupam Rasayan India (ARIL) and Tamil Nadu Development Corporation (TTDC).
The company with its production units in Cuddalore, Tamil Nadu, is one of the largest producers of Anhydrous hydrofluoric acid and aluminium fluoride in India. Moreover, TIL has received upgraded credit ratings from A- to A (stable) and A1 from A2+ for its long-term and short-term Bank facilities from ICRA.