Balaji Amines gains 3% after subsidiary gets mega project status

Balaji Amines was up 3 percent after its subsidiary received the status of a mega project from the Maharashtra government on January 4. The mega status project was given to the 'Expansion Project for Manufacture Speciality Chemicals' by Balaji Speciality Chemicals Limited, a subsidiary of Balaji Speciality Chemicals. The proposed investment for this is Rs 750 crores, said the company in an exchange filing. The company is planning to undertake capex for a new product, namely n-Butylamine which is used as an ingredient in the manufacturing of pharmaceuticals, APIs, pesticides and emulsifiers. The capacity for this is 15,000 TPA. The annual domestic demand for n-butylamine stands at 8000 tons.