Tata Chemicals in billion-dollar expansion mode

Mumbai: Tata Chemicals has chalked out a massive $1billion expansion plan, involving greenfield projects and acquisitions in the international arena, over the next four years.

"Through acquisitions and greenfield projects, we plan to invest $1 billion over the next three-four years," Tata Sons Ltd executive director R Gopalakrishnan said.

He, however, declined to give details about the funding pattern and merely said these would be rolled out as and when the investments take place over a period of time.

The Rs1,000-crore company, which had recently set up its innovation centre in Pune, will also look at emerging areas such as nano-technology, fermentation and bio-fuels, he said.

"The innovation centre has been set up to specially focus on new and green chemicals technology," he said.

The company would be looking to grow its business in the related fields, he added.

Though Tata Chemicals is one of the oldest companies within the Tata group, it had not embarked upon major expansions until the mid-1990s.

In 1995, the company took over a urea plant in Uttar Pradesh and a phosphoric plant in Haldia, in 2002.

Tata Chemicals also acquired a 33 per cent stake in a Moroccan phosphoric acid company and a 100 per cent stake in Brunermond, a British soda ash company in recent years.

In addition, Tata Chemicals also took over a Kenyan soda ash company, taking its capacity to two-million tonnes.

Set up in 1939, Tata Chemicals, which deals with soda ash, urea and phosphatics, is the third largest global player in soda ash.