Prigiv Specialities Private Limited (Prigiv), a Joint Venture company of Privi Speciatity Chemicals Limited, and Givaudan SA, (Givaudan) announced that it has commenced operations at its greenfietd facility in Mahad in the state of Maharashtra.
This greenfield facility is a state-of-the-art manufacturing unit, custom-built to produce small volume fragrance ingredients of medium to high complexity exclusively for Givaudan. The total capital expenditure incurred for this project is approximately Rs.178 crore, funded through equity contributions from both partners and loan financing from Givaudan. Privi holds a 51% equity stake in the joint venture with Givaudan holding the remaining49%.
The JV manufactures a broad portfolio of value added products with a progressive ramp up in activities over the next two to three years. The joint venture’s infrastructure has also been expanded with an additional S-acre area, adjacent to the existing 4-acre site