Privi Speciality Chemicals’ joint venture (JV), Prigiv Specialities, commenced operations at its newly established greenfield facility in Mahad, Maharashtra. The state-of-the-art manufacturing plant is designed to produce small-volume, complex fragrance ingredients exclusively for Givaudan. The total capital expenditure for the project stands at approximately ₹178 crore.
Privi holds a 51% equity stake in the joint venture, with Givaudan owning the remaining 49%. Initially, the JV will focus on producing a diverse range of value-added products, with a gradual scale-up expected over the next two to three years.
The start of operations further strengthens the long-standing partnership between the two companies. In addition, the facility’s infrastructure has been expanded by acquiring an additional five acre plot, adjacent to the existing four acre site, setting the stage for future growth.
As reported by sharesbazaar.com, Privi Speciality Chemicals manufactures, supplies, and exports aroma and fragrance chemicals.
