India-based Cetex Petrochemicals Ltd, which was acquired by Wayne Burt Capital, a PE Fund. plans to expand its annual production capacity by four-fold to 80,000 tonnes at a cost of Rs.400 crore (US$65 million).
At present, Cextex produces 10,000 tonnes each of Methyl Ethyl Ketone (MEK) and Secondary Butyl Alcohol (SBA) at its plants in Manali, near Chennai. According to S. Ilanahai, Managing Director, Cetex Petrochemicals, Cetex is the only company in South East Asia to produce MEK and SBA.
Cetex is in the process of implementing an additional unit that would increase the plant capacity by 10,000 tonnes per annum. The unit would be ready by the fourth quarter of 2015, Ilanahai said.
Also, Cetex had acquired Shell Chemicals Houston plant, which according to Ilanahai, would be dismantled and brought to India to produce 50,000 tonnes of Methyl Iso Butyl Ketone and Methyl Iso Butyl Carbinol. It would be commissioned by the fourth quarter of 2016.
Ilanahai said the company is also targeting the export markets. He said the company has tied up with Chevron Oronite, Singapore and US, Mitsui and Sojitz of Japan to market its products.
Cetexs products are used in a wide range of applications including lubricants, fuel additives, paints, printing inks, adhesives and coatings.
