Thermax Ltd: To set up renewable energy capacities and build-own-operate customer plants for biomass.
Pune-based Thermax Ltd has announced plans to invest ₹1,000 crore at multiple locations in Gujarat over the next year, according to Ashish Bhandari, the Managing Director and CEO of the company.
With around 2,500 employees in the state, Thermax Ltd aims to bolster its presence and capabilities in Gujarat through various strategic investments.
Diverse Investment Focus
The planned investments will encompass several key areas, including expanding chemical plants, establishing renewable energy capabilities, and developing biomass-related facilities.
This comprehensive approach reflects Thermax Ltd’s commitment to diversifying its operations and contributing to sustainable development.
Expansion Initiatives
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Thermax Ltd operates four manufacturing facilities in Gujarat, located at Savli, Jhagadia, Dahej, and Mundra.
Notably, the company is in the process of setting up a significant ion exchange resin manufacturing plant in Jhagadia. An additional investment of ₹45 crore will be allocated to enhance the capacity of this plant, which is currently under construction.
Export Focus
The facilities in Gujarat play a crucial role in Thermax Ltd’s export operations. Products from the Dahej and Mundra plants, including large boilers, are primarily exported, highlighting Gujarat’s significance as a hub for the company’s global trade.
Additionally, products such as resins, water treatment chemicals, and construction chemicals, among others, are exported from the Savli and Jhagadia plants.
Product Portfolio
Thermax Ltd’s manufacturing capabilities in Gujarat cover a wide range of products, including small and large boilers, chemicals, and petrochemical plants. This diverse product portfolio underscores the company’s versatility and ability to cater to various industries and market segments.
Strategic Growth
The planned investments in Gujarat signify Thermax Ltd’s strategic approach to expansion and development.
By leveraging Gujarat’s conducive business environment and existing infrastructure, the company aims to strengthen its position in the region and capitalize on emerging opportunities in the energy and chemical sectors.
