Gypsum industry news

India: Rashtriya Chemicals and Fertilizers says it has received approval from the Kochi bench of the National Company Law Tribunal (NCLT) for a debt resolution plan for FACT-RCF, a joint-venture that it runs with Fertilizers and Chemicals Travancore, according to the Business Standard newspaper. The plan reportedly includes debt restructuring, transfer of assets including a plant to an asset reconstruction company and the possibility of reopening the business through the inclusion of new investors.

FACT-RCF Building Products was set up to manufacture gypsum-based building materials as a by-product using raw material from Rashtriya Chemicals’ plant. However, the joint venture made a loss, defaulted on loans of around US$2.5m and the manufacturing unit was shut down in 2019.

India: With glass reinforced gypsum panels manufactured by FACT-RCF Building Products Limited (FRBL) growing popular, the joint venture company's turnover is expected to surpass US$2.95m during its current financial year.

The growth is significant given that the company's turnover was less than US$73,950 two years ago. During the previous financial year, turnover touched US$369,754, according to C P Dinesh, Managing Director of FRBL.

The sale of gypsum panels during the first nine months of its current fiscal year brought in US$665,233. About 100,000ft²/yr of panels is expected to be sold during the year. Dinesh said that gypsum panels had become acceptable in the country as an alternative to conventional building materials due to their environment friendliness and cost-efficiency.

India: Gypsum wallboard and plaster maker FACT-RCF Building Products Ltd (FRBPL) is expecting to sign a supply contract with Tata Housing. FRBPL is a 50:50 joint venture between Kochi-based Fertilisers and Chemicals Travancore Ltd and Rashtriya Chemicals & Fertilisers Ltd (RCF).

"The negotiations are on with Tata Housing. We hope to conclude the negotiations soon and ink the deal," said C P Dinesh, managing director of FRBPL. Dinesh said that the plant in Kerala has a capacity of 1.4Mm2/yr and started production in 2012. According to Dinesh, Tata Housing is planning to construct ground plus four buildings and needs wallboard panels in large numbers.

India: India's FACT-RCF Building Products Ltd hopes that sales of gypsum-based building products will help it to reach US$50.8m in revenue in the current fiscal year.

The company, which is a joint venture between Kerala-based Fertilisers and Chemicals Travancore and Mumbai's Rashtriya Chemicals and Fertilisers, has received an encouraging response from users of gypsum products. End users have already purchased around 23,226m² of products, according to Jaiveer Srivastava, chairman and managing director of FACT-RCF.

The company has set up a 1400000m²/yr capacity plant in Kochi, Kerala at an investment of US$25.4m. Srivastava described the gypsum-based building products as a solution to address the issues connected with natural resource constraints in the building sector at a time when the availability of water, sand and labour are becoming scarce.