- 20 Mar 2023
- ICICIdirect Research
NAVIN FLUORINE BOARD APPROVES CAPEX OF RS 450 CRORE
NAVINFLUOR - 4333 Change: 119.10 (2.83 %)News: The Board of Navin Fluorine Advanced Sciences (NFASL), a wholly owned subsidiary of the company, has, at a meeting, approved a capital expenditure of Rs 450 crore for setting up a new 40,000 tonnes per annum hydrofluoric acid capacity at Dahej. The new capacity is expected to come on stream in two years. The project will be funded through a mix of internal accruals and debt
Views: A crucial raw material for producing refrigerant gases like R-22 and R-32 is hydrofluoric acid. The company sells these gases as a product and also uses them internally to manufacture other specialty chemicals. Also, these gases serve as a crucial raw material in the production of fluoropolymers like PTFE, PFA, and others that are employed in the developing renewable industry. Hence, expansion of hydrofluoric acid from 20,000 TPA to 60,000 TPA will help Navin Fluorine to cater growing demand in pharmaceutical and agro-chemicals as well as in sunrise sectors like EV battery chemicals, solar panels, green hydrogen,fuel cells, etc
Impact: Positive