India's Godrej Chemicals boosts capacity, aims for global growth
The company announced doubling of its Fatty Alcohol and Euric Acid capacities with an addition of 35,000 tons per annum and 20,000 tons per annum respectively. It has tripled its specialities capacity with an addition of 21,000 tons per annum while the glycerine capacity will be doubled with an addition of 24,000 tons per annum. The fermentation capacity will also see a threefold increase with an addition of 1,500 tons per annum. It plans to increase the Primary Surfactants capacity with an addition of 30,000 ton per annum. Additionally, to support the company's sustainable operations, it will enhance its hybrid power capabilities thereby increasing renewable energy usage to 75 percent.
Godrej Industries' Chemical Business plans to invest over INR 750 Crore (~$90 million) to expand capacities across key products, aiming to become a USD 1 billion global business by 2030. It will significantly boost output of fatty alcohols, surfactants, and fermentation products, while increasing renewable energy use to 75 per cent, reinforcing its sustainability and green chemistry focus.
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. The significant investments in our R&D and Commercial teams reflect our commitment to Sustainable Operations and Green Products in our quest to deliver innovative solutions to our customers across all market segments. Our capacity additions align with our long-term aspirations to become a USD 1 Billion global business before 2030. On behalf of our entire team, I thank our customers, suppliers and stakeholders for their great support which is enabling our strong progress year after year.'
The company sees Green Chemistry as an important pillar in its growth strategy. While it is reducing its environmental footprint through energy efficient processes, adoption of renewable energy and zero waste goals, it is also leveraging biocatalysis, continuous manufacturing and fermentation for green, efficient and milder innovations. Hence, today's announcement further reinstates the company's strong focus on sustainability, innovation, and tailored solutions for its focus segments. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
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