Camlin Fine Sciences, intra day rose to a high of Rs.96.50, up 5.5% and though it has come off this level, it remains firmly in the green, up over 4%.

The company announced yesterday after market hours that the State Level Environment Impact Assessment Authority, Gujarat at its meeting held on July 16, 2016 has granted the environmental clearance to the Company for setting up a manufacturing facility for Hydroquinone/ Catechol and its down-stream products at Dahej Sez, Bharuch District, Gujarat.

This environmental clearance was granted with all the conditions recommended by the State Level Expert Appraisal Committee.

This unit has been in the making for some time now. In 2015, the cost was estimated at Rs.190 crore and it is to have an annual capacity to produce 9,000 tonnes of Hydroquinone and 6,000 tonnes of Vanillin.  The setting up of this new plant will help the company become a major supplier of Diphenol and Catecholand Vanillin as well as its derivative and down-stream products. The plant is to be commissioned by Sept 2017.

Camlin is also in the process of setting up new subsidiary companies in China and Mexico to initially act as warehousing hub and market its products.