Mumbai: Godrej Industries on Thursday said it will invest more than Rs 750 crore over the next few years to expand capacities of its chemicals business and achieve higher annual revenue.
In a regulatory filing, Godrej Industries informed that its chemical business will undertake significant capacity expansions as part of its growth plan to become a USD 1 billion global business before 2030.
"With a total capital outlay for expansions to exceed Rs 750 crore over the next few years, the company has already kicked off several projects," it said.
Godrej Industries (Chemicals) will double its fatty alcohol and uric acid capacities with an addition of 35,000 tonnes per annum and 20,000 tonnes per annum respectively.
It has tripled its specialities capacity with an addition of 21,000 tonnes per annum, while the glycerine capacity will be doubled with an addition of 24,000 tonnes per annum.
The fermentation capacity will also see a threefold increase with an addition of 1,500 tonnes per annum.
It plans to increase the Primary Surfactants capacity with an addition of 30,000 tonnes per annum.
The Chemical Business will enhance its hybrid power capabilities thereby increasing renewable energy usage to 75 per cent.
Vishal Sharma, Executive Director and Chief Executive Officer, Godrej Industries (Chemicals) said, "Consistently achieving double-digit volumes and revenue growth year after year, it's a very exciting time for us here at Godrej Chemicals." "Our capacity additions align with our long-term aspirations to become a USD 1 billion global business before 2030," he added.
Godrej Industries (Chemicals) is one of the oldest businesses of the Godrej Industries Group, established in 1963. It is one of India's leading providers of oleochemicals, surfactants, specialty chemicals, and biotech products.
The company has four manufacturing locations (one in Maharashtra, two in Gujarat and one in Goa).
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