DIC Corporation announced that its wholly owned subsidiary Ideal Chemi Plast Private Limited, based in the state of Maharashtra, India, has commenced construction of a new coating resins production facility in the state’s Supa industrial area. The new greenfield project will increase Ideal Chemi Plast’s production capacity for these resins, enabling it to keep pace with rising demand in India.
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DIC has formulated a strategy for expanding the DIC Group’s presence in coating resins markets across Asia. The Indian market, a key target of this strategy, is projected to see annual growth in excess of 9%. With the aim of capturing local demand, in April 2019 DIC acquired Ideal Chemi Plast, having determined that fusing its ability to develop high-end coating resins with the Indian company’s extensive sales channels, customer base, grasp of user needs, and supply chain would swiftly elevate its market position in India. With its existing coating resins production facility operating at full capacity ever since the acquisition, underpinned healthy demand, Ideal Chemi Plast recognized the need to swiftly augment capacity and purchased a site for a new facility in March 2021. Construction began in April this year.
The new facility, which is expected to begin operating in July 2023, will triple Ideal Chemi Plast’s production capacity. Reactors will also allow local production of new environment-friendly products and products for the global market developed at DIC’s Polymer Technical Center Asia Pacific in Thailand. To ensure it operates in a manner that does not harm the environment, the facility will install a Zero Liquid Discharge system, enabling it to treat all wastewater internally to produce clean water suitable for industrial use. This New facility also focuses on carbon footprint reduction by selecting natural gas as fuel, energy efficient machineries with good engineering practice and better safety standards.