India's Styrenix Performance Materials Limited expands resin production capacity

Recently, India's Styrenix Performance Materials Limited (SPM) announced that it is expected to expand its acrylonitrile-butadiene-styrene (ABS) and polystyrene (PS) production capacity and put into operation at Dakhj and Nandesari in western Gujarat by 2028.

An investment of 6.5 billion rupees is planned for these capacity expansion projects. In the next four years, its ABS production capacity will expand from the current 85,000 tons/year to 210,000 tons/year, and its PS production capacity will increase from the current 66,000 tons/year to 150,000 tons/year. Sources at the company said: "The expansion will be carried out in phases and production capacity will be gradually increased in the next few years. Strong growth is expected in existing markets such as automobiles, home appliances, medical equipment, electronic products, etc."

SPM was formerly known as INEOS Styrolution India. Ineos Styrolution changed its name in January 2023 after selling all its shares in the company to Shiva Performance Material in August 2022.