Chemtreat to Set Up A Composite Technology Park to Manufacture Innovative Anti-Corrosion Products for Construction Industry

Chemtreat India is executing an Rs 25-crore capital expenditure plan to set up a composite technology park at Khopoli in Maharashtra. "We are setting up a composite technology park to manufacture innovative anti-corrosion products for the construction industry," Chemtreat India's Managing Director Mukul Gupta informed media persons the other day. The company has developed products which will replace natural elements such as wood and steel in the construction, Gupta said, adding that company is also developing alternative sustainable light-weight material for metro and bus coaches and aero-space industry. The first phase of the project is expected to cost Rs 20 crore in FY 12, and it will be financed through internal accruals and term loans. IDBI Bank has already sanctioned term loans worth Rs 8 crore, he added. The company will have manufacturing capacity of 1,200 kg per hour of artificial wood, 600 square meter per hour of composite board and 20 square meter per hour of artificial stone at its Khopoli unit. The company is launching a line of composites of artificial stone - a replacement for granite and marble, feather weight board-Plumaplank - a replacement for steel sheet, and Woody-Lenosa - a replacement for wood.