Assam Petrochemicals is planning to acquire 200 acre land to set up a new manufacturing plant in Assam with an installed capacity to produce 100 tonne of sulphonated formaldehyde per day.
As part of its long-term plan, APL intends to set up the formalin plant. It has already seen a land parcel in Goalpara and is likely to take possession within the next one year. The formalin plant will produce sulphonated formaldehyde, a chemical used as an additive with cement for bringing down the cement requirement for civil constructions. The project will likely take off once it completes its ongoing methanol-acetic acid project. The methanol-acetic acid plant is estimated to cost Rs 1,028 crore.
Earlier this month, it had raised a debt capital of Rs 635 crore from a cluster of 10 banks to complete the methanol-acetic acid plant. The project is scheduled to be completed in 2014.
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