The Comp. was incorporated on 29th August 1989 as a Private Limited Comp. in the name of Shreeji Petrowealth Private Limited. The Comp. converted itself into a Public Limited Comp. as well as the name of Comp. was changed to ATV Petrochem Limited vide Special Resolutions passed on 04/01/1993 & 28/01/1993 respectively. A fresh certificate of incorporation consequent on change of name was issued by Registrar of Companies, Maharashtra on 4th February, 1993.
The business of Comp. relates to letting on hire Tank Farms for storing Chemicals. The Comp. is also engaged in trading of Chemicals, which has earned good results, due to which the Company turnover has increased to Rs. 339.09 lacs in 1992-93 from Rs. 1.49 lacs in 1989-90.
The Comp. is setting up a project for manufacture of 1,20,000 metric tonnes per annum of Purified Terephthalic Acid [PTAs] at village Chhata near Kosikalan, District : Mathura in the state of Uttar Pradesh. The Comp. has entered into foreign collaboration agreement with M/s. Tecmor Inc., USA for transfer of knowhow, basic engineering etc for manufacture of PTA.
Tata Consulting Engineers [TCEs], a division of Tata Sons Ltd have been appointed as Consultants to provide detailed engineering services, supervisions of dismantling, supervision of packing & shipment of Equipments from France & its erection at project site & to oversee the successful commissioning of plant.
The Comp. was promoted originally by Shri. Mahesh Chaturvedi & Shri. Suresh Chaturvedi. ATV Projects India limited joined as co-promoter for project since January 1993.
The Comp. will be manufacturing Purified Terephthalic Acid,
[PTAs]. PTA is one of main raw materials for manufacture of
Polyester Staple Fibre [PSFs], which is a Synthetic Fibre with
soft feeling & is used to make blended fabrics. PTA is also
used as a basic raw material for producing Polyester Filament
yarn [PFYs] which has a bright shiny look & is used to make 100%
Polyester or blended fabrics.
An agreement has been executed with M/s. Tecmor Inc. U.S.A. [The Technologists] to transfer the knowhow, process engineering design
and also avail of Technical assistance for refurbishment of Equipments & for erection & commissioning of Plant. Salient features of Agreement with M/s. Tecmor Inc. are as under.
1. Tecmor Inc. shall be wholly responsible for overall construction of plant & its operational performance which includes the capacity, quality & guaranteed consumptions.
2. To provide detailed process description, flow diagrams, materials & heat balances, process data sheets, P&I diagrams line drawings, raw materials & utilities specifications, etc.
3. To review the detailed engineering design to be made by Indian Consulting engineers, based on aforesaid data & approve the same.
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