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Navin Fluorine International has informed the exchanges that the company has entered into a $410-million multi-year contract with a global company for manufacture and supply of a high-performance product in the fluorochemicals space. The project will entail an investment of about $51.50 million (₹365.50 crore) in the manufacturing facility and $10 million (₹71 crore) in the captive power plant.
The company will execute this capex and the project through its wholly-owned subsidiary, Navin Fluorine Advanced Sciences Limited, and will be located at Dahej, Gujarat. It will be funded through a mix of internal accruals and debt. Shares of Navin Fluorine International closed at ₹1,455.10, up 20 per cent from its previous close on the BSE.
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