Manali Petrochemicals gets approval for investment of upto US$15 mln in AMCHEM

19-Sep-16

Manali Petrochemicals has received an approval for additional investment of up to US$15 million in AMCHEM Speciality Chemicals ( AMCHEM), Singapore. Manali Petrochemicals is a leader in the production and marketing of Propylene Oxide, Propylene Glycols and Polyols in India. The Company operates two grassroot production facilities at Manali to manufacture Propylene oxide (PO), Propylene Glycol (PG) and Polyols.

“The Board at the meeting held on September 08, 2016 has approved an additional investment upto US$ 15 million in AMCHEM Speciality Chemicals Private Limited, Singapore, the Wholly Owned Subsidiary of the Company for the potential acquisition of an overseas System House,” the company said in a filing to the Bombay Stock Exchange.