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History of Advance Petrochemicals Ltd.

Advance Petrochemicals limited was incorporated as a Public Limited Co. in 1985. The Comp. is promoted by Mr. Vishwanath Goenka. It is a Comp. of Advance group which has multiproduct companies.

The Comp. is engaged in the manufacture of specialised & para-chemicals which are used for oil exploration, drilling, petroleum product detergents, paper, leather, pesticides, fertilizers textiles as a chemical as well as basic material.

The Comp. plans a phasewise expansion. In the first phase an investment of Rs. 4 crores is envisaged to create additional facilities for manufacture of import substitute item like alkyl alkanol amines isopropanol amine. The second phase envisage an expansion in the field of contracting & servicing of oil well drilling & work-over big for Oil-exploration for this the Comp. is negotiating a suitable foreign collaboration. This expansion programme involves an expenditure of Rs. 8 crores which will be financed by company rights cum public issue with appropriate premium during first quarter of 1993-94. The Comp. made it maiden Public Issue of Rs.0.54 crores in 1985.