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SVC Superchem > Company History > Petrochemicals > Company History of SVC Superchem - BSE: 524488, NSE: ATVPETRO

SVC Superchem

BSE: 524488|NSE: ATVPETRO|ISIN: INE038B01010|SECTOR: Petrochemicals
Jun 04, 16:00
VOLUME 8,200
SVC Superchem is not traded in the last 30 days
Company History - SVC Superchem
The Company was incorporated on 29th August 1989 as a Private Limited 
 Company in the name of Shreeji Petrowealth Private Limited.  The
 Company converted itself into a Public Limited Company as well as the
 name of the Company was changed to ATV Petrochem Limited vide Special
 Resolutions passed on 04/01/1993 and  28/01/1993 respectively. A
 fresh   certificate of incorporation consequent on change of name was
 issued   by Registrar of Companies, Maharashtra on 4th February,
 The business of the Company relates to letting on hire Tank Farms for
 storing Chemicals.  The Company is also engaged in trading of
 Chemicals,  which has earned good results, due to which the Company's
 turnover has increased to Rs. 339.09 lacs in 1992-93 from Rs. 1.49
 lacs in 1989-90.
 The Company is setting up a project for manufacture of 1,20,000
 metric  tonnes per annum of Purified Terephthalic Acid (PTA) at
 village Chhata near Kosikalan, District : Mathura in the state of
 Uttar Pradesh.  The   Company has entered into foreign collaboration
 agreement with M/s. Tecmor Inc., USA for  transfer of knowhow, basic
 engineering etc for manufacture of PTA.
 Tata Consulting Engineers (TCE), a division of Tata Sons Ltd have
 been  appointed as Consultants to provide detailed engineering
 services, supervisions of dismantling, supervision of packing and
 shipment of Equipments from France and its erection at project site
 and to oversee the successful commissioning of the plant.
 The Company was promoted originally by Shri. Mahesh Chaturvedi and 
 Shri. Suresh Chaturvedi. ATV Projects India Ltd. joined as
 co-promoter for the project since January 1993.
 The  Company  will be manufacturing Purified  Terephthalic  Acid, 
 (PTA).   PTA is one of the main raw materials for manufacture  of 
 Polyester  Staple  Fibre (PSF), which is a Synthetic  Fibre  with 
 soft  feeling and is used to make blended fabrics.  PTA  is  also 
 used  as  a basic raw material for producing  Polyester  Filament 
 yarn (PFY) which has a bright shiny look and is used to make 100% 
 Polyester or blended fabrics.
 Foreign Collaboration
 An agreement has been executed with M/s. Tecmor Inc. U.S.A. (The
 Technologist) to transfer the knowhow, process engineering design 
 and also avail of Technical assistance for refurbishment of
 Equipments  and for erection and commissioning of the Plant. Salient
 features of Agreement with M/s. Tecmor Inc. are as under.
 1. Tecmor Inc. shall be wholly responsible for the overall
 construction  of the plant and its operational performance which
 includes the capacity, quality and guaranteed consumptions.
 2. To provide detailed process description, flow diagrams, materials 
 and heat balances, process data sheets, P&I diagrams line drawings,
 raw materials and utilities specifications, etc.
 3. To review the detailed engineering design to be made by Indian
 Consulting engineers, based on aforesaid data and approve the same.
 -Lenders approve Rs 950 crore loan recast plan of the company
 -Registered Office of the Company has been shifted From Phiroz
 Mansion, 2nd Floor, 4, Steven's Street, Colaba, Mumbai - 400039.To
 301, 3rd Floor, Shubham Centre-1, Near Holy Family Church, 491,
 Cardinal Grades Road, Andheri (East), Mumbai - 400099.
Source : Dion Global Solutions Limited
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