In Short:
Kanoria Chemicals & Industries Limited (KCI) opened two new manufacturing plants in Gujarat. They launched an 18 Metric Tons per Day Hexamine facility, doubling production to 36 MTPD, and a 345 MTPD Formaldehyde plant, raising output to 763 MTPD. The expansions, supported by the Gujarat government, aim to meet demand in various sectors, with KCI shares up 5.20% to ₹133.40.
Exciting Growth for **Kanoria Chemicals & Industries Limited**
Today was a big day for **Kanoria Chemicals & Industries Limited (KCI)** as they proudly inaugurated not just one, but **two new manufacturing plants** at their GIDC Ankleshwar site in Gujarat!
Doubling Down on Hexamine Production
First up, KCI launched a state-of-the-art **Hexamine facility** that boasts a capacity of an impressive **18 Metric Tons per Day (MTPD)**. With this new addition, they are effectively doubling their total Hexamine production capacity to a remarkable **36 MTPD**. This leap forward reflects the company’s commitment to enhancing their production capabilities.
A Fresh Formaldehyde Facility
But that’s not all! KCI also unveiled a brand-new **Formaldehyde plant** with a substantial capacity of **345 MTPD**. This expansion brings their total Formaldehyde output soaring to **763 MTPD**. Such a significant increase underscores KCI’s dedication to meeting the rising demands of various industries.
Market Performance
On the stock market front, shares of **Kanoria Chemicals & Industries Limited** were making waves as they traded at **₹133.40**, marking an uptick of **5.20%** at around 12:50 PM today.
Meeting Growing Demand
The new plants are equipped with cutting-edge technologies; the Hexamine plant utilizes indigenous technology, while the Formaldehyde facility employs **Metal Oxide-based technology**. These advancements are strategically aimed at supporting the increasing demand across key sectors such as pharmaceuticals, rubber, textiles, and agrochemicals, catering to both domestic and international markets.
Aiding Hands
KCI attributes much of this success to the **Gujarat government’s supportive policies**, which have played a vital role in bringing these ambitious projects to life.
