The board of directors of Deepak Chem (DCTL), a Deepak subsidiary, has approved a project to increase phenol, acetone, and isopropyl alcohol (IPA) production at its new plant in India, according to a release.
The project’s preliminary cumulative investment will be Rs 3,500 crore (USD 406 million). The project will be implemented at the polycarbonate resins (PC) plant in Stade, Germany, which was previously held by the German business Trinseo. In November 2024, Deepak Holding paid USD 52.5 million for it. All of the plant’s equipment will be relocated to India. The project’s timeline has not yet been published.
Currently, the company’s plants generate 300 thousand tonnes of phenol, 200 thousand tonnes of acetone, and 80 thousand tonnes of IPA every year. The growth of production will nearly treble the output of these products.
Deepak will be one of India’s most integrated and largest PC manufacturers once the civil and installation works are done, as well as the phenol and acetone production facilities operational.
It was previously reported that China’s CNOOC and SHELL have reached a final investment decision (FID) to develop their petrochemical joint venture CSPC in Huizhou, Guangdong Province, China. In addition to constructing a third cracker with a capacity of 1.6 million tons of ethylene per year, a plant for the manufacturing of specialty chemicals such as PC and carbonate esters with a capacity of 320 thousand tons per year will be constructed.