Grasim Industries signed an agreement with Berkshire Hathaway's Lubrizol Corporation to manufacture and supply chlorinated polyvinyl chloride (CPVC) resin in India.
Grasim, a unit of Aditya Birla Group, signed a definitive agreement with Lubrizol Advanced Materials, the former said in a statement to stock exchanges.
Initial production of CPVC in India is expected in late 2022 at Grasim’s facility in Vilayat, Gujarat, the company said. CPVC is used to manufacture pipes, and India is one of the largest consumers of the polymer material.
"Construction of the near 100,000 metric ton plant will take place in a phased manner, and once commissioned, this would be the single largest site capacity for CPVC resin production globally," Grasim added.
Lubrizol invented CPVC resins and compounds, and is currently the largest manufacturer of such products.
"This collaboration with Lubrizol Advanced Materials is part of our long-term direction to bring in world class technologies to India and additionally complements our growth strategy in Chlor-Alkali and Derivatives platform" said Kalyan Ram Madabhushi, CEO – Global Chemicals & Group Business Head- Fertilisers & Insulators, Aditya Birla Group."This alliance will help to better serve CPVC customers in India and South Asia, as well as support the Indian economy," said Arnau Pano, Vice President, Lubrizol Advanced Materials, South Asia.