GNFC to enlarge formic acid plant, plans to invest Rs 6 crore
By Our Corporate Bureau | 23 Oct 2002
Mumbai: The Bharuch-based fertiliser and chemical major Gujarat Narmada Valley Fertilisers Company (GNFC) has planned to increase the capacity of its formic acid plant from 10,500 metric tonnes per annum (MTA) to 12,705 MTA.
The move is in view to meet the demand of 2,000 MTA formic acid presently being imported in India every year. The company intends to meet the formic acid demands by May 2003 with an investment of Rs 6 crore.
Formic acid is extensively used as a coagulant for obtaining rubber from latex. An auxiliary for delining and pickling of fur, fixing of dyes in leather industry and in processing of textile industry, it is also used as an intermediate while manufacturing basic drugs, plant protection agents, pesticides, vulcanisation, accelerators, antioxidants and cleaning agents. Formic acid also finds its use in the preservation of silage and grams. It is also used in electroplating and can be used as a solvent as well.
Says
GNFC chairman Pradeep Sinh Jadeja: “GNFC is the market
leader in most of the chemicals it produces and enjoys
the confidence of its customers. A recent research conducted
by the company indicated that the demand of formic acid
in India is high and is currently being met through imports
from other countries. Complementing the research we did
special analysis of our plants and understood that with
further investments we could meet the country’s demand
of formic acid and we took no time in doing so.”
Incorporated in 1976, GNFC is a joint sector company having established its reputation as the leading Indian manufacturer of nitrogenous and phosphate fertilisers such as urea, ammonium nitro-phosphate, calcium ammonium nitrate and industrial chemicals such as methanol, formic acid, acetic acid and nitric acid. The company has also made a foray into the field of information technology.