MUMBAI: Dhanuka Agritech Ltd today said it has drawn up a Rs 50 crore plan for setting up a pesticides formulation facility at Kotputli, Rajasthan.
"We are investing Rs 50 crore to set up ultramodern facility, having 6,000 litres per annum of liquid and 5,000 MT per annum of powder pesticides formulation capacity at Kotputli," said the company's Managing Director M K Dhanuka. The project will be funded through internal accruals, and the first phase will be ready by January 2015.
It will take the total capacity of the company to 10,000 litres of liquid and 10,000 MT per annum of powder pesticides formulation. The company has also acquired 37 acres of land in Dahej, Gujarat for future expansion. Dhanuka Agritech has manufacturing facilities in Gurgaon, Sanand in Gujarat and Udhampur in J&K. It has a 800-product portfolio of pesticides for paddy, soybean, cotton, pulses and horticulture.
The company has tied up with four Japanese and three US- based MNCs to offer new technology in pesticides. It hopes to launch six new molecules between FY 15 to FY 17, Dhanuka said. Dhanuka called for more usage of pesticides as the country loses around Rs 3 lakh crore worth food to pests. The company hopes to grow at 25 per cent per annum and clock Rs 1,000 crore turnover by 2016, from Rs 586 turnover in FY'13.
(As published in The Economic Times on Mon, 06 Apr 2014)