Ideal Chemi Plast breaks ground on coating resins facility in Maharashtra
Ideal Chemi Plast, an Indian chemical manufacturing company, has broken ground on a new coating resins production facility in Ahmednagar district, Maharashtra.
The company, which is a fully-owned subsidiary of Japan-based DIC Corporation, is expected to begin operations at the coating resins plant in July 2023. The 48,500m2 facility is being constructed in the Supa industrial area.
According to DIC Corporation, the new greenfield project will ramp up the production capacity of Ideal Chemi Plast for the resins, enabling it to cope with the increasing demand in India. It will produce acrylic resins, alkyd resins, polyester resins, and others.
The coating resins production facility in Ahmednagar district is expected to increase Ideal Chemi Plast’s production capacity by three times.
Ideal Chemi Plast was acquired by the Japanese chemicals company in 2019.
DIC Corporation stated: “Looking ahead, the DIC Group will continue working to strengthen its presence in the Indian coating resins market by further boosting both its production capacity and the range of products it offers, thereby improving value provided to local customers and locking in persistently robust demand.”