Pidilite Industries Limited, the owner of brands such as Fevicol, M-Seal and Dr. Fixit, is looking for a strategic partner for its synthetic elastomer project in Dahej, Gujarat considering the techno-commercial factors. However, the company has not divulged any further details.
The officials were unavailable for a comment on the challenges the project was facing. The adhesive-maker, in a filing with the stock exchanges, has stated, “construction work on the project remained suspended as the company was evaluating various alternatives regarding the future of the project.” Pidilite’s synthetic elastomer project, which was planned in 2007 at an investment of Rs 450 crore, is under review for quite some time due to huge volatility in price of Butadiene, the key raw material, analysts tracking the sector said.