Indian chemical manufacturing company Sanmar Group put aside about $220 million for projects in Tamil Nadu.
Sunmar noted the capital expenditure plan involves increasing suspension polyvinyl chloride capacity in Cuddalore to 600 kilotonnes per annum (ktpa) by 2023.
Moreso, the company also expects to boost to 900 ktpa by 2025 at an investment of $186 million from 300 ktpa now.
The estimated incremental annual earnings before interest, tax, depreciation and amortisation after the expansion will be $162 million.