Targets revenue of over Rs 2200 crore (US$300 million) from this facility by FY27
New Delhi, July 11th, 2022: Epsilon Carbon, India’s leading coal tar producer, has entered into an agreement with Sri Anagha Refineries to establish India’s first Molten Pitch Storage Tank facility in Managalore, Karnataka.This will be a first-of-its-kind molten Pitch storage facility with a tank capacity of 10,000 Metric Tonnes. The port facility will have a draft of 14 meters and will allow vessels up to DWT of 100,000 Mt to berth.
Epsilon Carbon is the largest producer of Coal Tar Pitch in India and expects its capacity to double by 2025. The company is targeting a revenue of over Rs 2200 crore (US$ 300 Million) from this facility in the next five years. Through this facility, Epsilon Carbon, will cater to global aluminum smelters where it has been qualifying for the last two years. Currently 80% of global liquid coal tar pitch is supplied by China to global aluminum smelters. Epsilon Carbon expects to enter long term supply contracts with global customers during this financial year.
Speaking on the signing of the agreement, Mr. Saiprasad Jadhav, CEO, Epsilon Carbon, says “Epsilon Carbon aims to produce 300,000 Tons of Coal Tar pitch every year and with the metal upcycle, a lot of global aluminum customers have been approaching us to cater to them. We took this decision after numerous discussions with our customers and believe this facility will help reduce the transit time from China and offer a valuable Ex-China solution for our customers.”