Laxmi Organic

completed

Laxmi Organic Industries Limited (LOIL) is an Indian company manufacturing specialty chemicals (ethyl acetate or EATC at Unit 1 and diketene derivatives or DD at Unit 2, which cater to diverse industries including pharmaceuticals, paints, dyes, pigments, flexible packaging, agrochemicals, aluminum foil, and adhesives. The proposed investment is for (i) brownfield expansion of ETAC capacity from 60,000 tonnes per annum (tpa) to 100,000 tpa; (ii) building a 7.5MWe turbine installed capacity coal fired co-generation facility with about 4.8MWe power available for utilization from Unit 1; (iii) brownfield expansion of DD products with capacity increasing from 9600 tpa to 22,100 tpa; and (iv) setting up 13,000 tpa capacity to manufacture acetic anhydride (AAH) at Unit 2. IFC is considering supporting the Project through an equity stake in LOIL. The main specialty chemical manufacturing facilities, Units 1 and 2, are located in Mahad, Maharashtra State, India, which account for approximately 95% of LOIL revenue. LOIL has a molasses fermentation/ethanol distillation facility in Satara, Maharashtra. Besides the chemical business, LOIL has two wind turbines of total capacity 2.5 MW located at a large wind farm and operated by the wind farm company. LOIL also plans to install water turbines at existing dams with total capacity of 7 MW.