Meghmani Finechem Limited

completed

Meghmani Organics Limited (MOL or the sponsor), a manufacturer of specialty chemicals in Gujarat, India has set up a new company - Meghmani Finechem Limited (MFL or the company), which will construct and operate a 110,000 tons per annum (tpa) chlor-alkali plant together with a 40MW captive power plant, both at a greenfield site at Dahej, Gujarat. The proposed project supports the efforts of MOL to improve its competitiveness by partial backward integration of its operations while using environment-friendly membrane cell technology. The chlor-alkali plant is expected to become operational in CY2009.MOL views MFL as the vehicle for the future investments and growth which will build on MOL’s technical expertise and existing operations. After the project, which represents Phase I, is complete, the shareholders hope to move into Phase II, which would focus on downstream chlorine derivatives such as PVC, ECH, mono-chloro acetic acid, cyanuric chloride, aluminum chloride, calcium chloride, methyl chloride, hydrogen peroxide and others.