NE BUSINESS BUREAU
AHMEDABAD, DEC 14
Ahmedabad-based Asahi Songwon Colors on Monday announced the commencement of commercial operations at Dahej plant of Asahi Tennants Color, its joint venture company with UK’s Tennants Textile Colours Limited, set up to manufacture red and yellow pigments.
The company’s joint venture plant at Dahej, set up at an investment of Rs 82 crore with Tennants Textile Colours Limited (TTC) of UK, has an installed capacity of 2,400 tonnes per annum, said the company in a release.
The JV, in which Asahi holds 51 percent stake and TTC 49 percent, was announced on October 22, 2019, and the ground-breaking ceremony of the plant was performed on December 12, 2019, with an expected date of commissioning in March 2021, said the company.
“It is our pleasure to announce that in spite of the COVID-19 pandemic, we successfully commissioned the plant on December 14, four months before the original target date. We are going to work towards full capacity utilisation at the plant, and aim to double capacity by 2022,” said the release quoting Arjun Jaykrishna, Executive Director, Asahi Songwon Colors.
The Dahej plant will enable Asahi to extend its global pigment presence, which is currently dominant in the phthalocyanine pigment space, to the full range of pigment colors, said the release.
Asahi Songwon’s CEO Gokul Jaykrishna said that the commencement of operations of the JV company gives Asahi the perfect launching pad to widen its presence as a leading global supplier of pigments, and make a mark in the AZO pigment space, as per the company release.
