Buoyed by increasing demand for specialty chemicals in the global market, chemicals manufacturer Balaji Amines has set a target for netting around 50 per cent of its sales from exports over the next two-three years, a senior official said.
Specialised in the manufacture of methylamines, ethylamines and derivatives of specialty chemicals, Balaji also expects to more than double its revenue to Rs 900 crore over the next three years.
“The environment for the chemical industry in the global market continues to look encouraging, aided by higher demand. We are looking at around 45-50 per cent of our sales coming in from exports in the next two-three years,” Balaji Amines Commercial Director Mr D Ram Reddy told PTI.
Currently, exports contribute nearly 30 per cent of the company’s sales, which stood at around Rs 400 crore last fiscal. Balaji Amines exports to as many as 45 countries.
“We plan to achieve the target by nearly doubling our capacity to 1,40,000 tonnes annually,” he said.
The Hyderabad-based company has three manufacturing plants - two at Solapur in Maharashtra and one in Hyderabad - with a total installed capacity of nearly 70,000 tonnes per annum. These manufacture around 20 products, including amines, derivatives and specialty chemicals.
Balaji has also embarked on an over Rs 90 crore capacity expansion plan by setting up a new plant for manufacturing dimethyle formamide at Chincholi, in Solapur, with a capacity of 30,000 tonnes per annum, besides augmenting its existing methylamines profuction capacity by 30,000 tonnes. The new plant is expected to be operational by next June.