So, RCF has a 10,000MTPA capacity of formic acid… which if acquired will increase gnfc current capacity to 30,000MTPA…
Here the the scrapings from AR’s of the last 3 years regarding formic acid…
Now the plant is shut down…
there was a provisioning for impairment of 3.87cr in 2014-2015
Then production drastically fell in 2015-12016…
1.AR 2014-2015
excerpts…
2.AR 2015-2016
3.AR2016-2017
So the capacity utilization in the formic acid plant was 56% in 2013… there after is declined…
An interesting article to be noted,…
Disclaimer… intevested