Deepak Nitrite to set up Rs. 1,200-cr phenol, acetone plant.

Deepak Nitrite in a communication to the BSE said that its board of directors on August 7 had approved setting up of a project to manufacture phenol and acetone at a cost of about Rs. 1,200 crore. The proposed unit would be set up at Dahej in Gujarat. The capacity of the phenol plant would be 2 lakh mpta and that of the co-product acetone 1.20 lakh mpta. The company said the project would be funded with a suitable mix of debt and equity. As various financial options for raising resources were being evaluated, the project could either be set up within the company or as a subsidiary, the filing added.