Grasim Industries Ltd, along with Lubrizol Manufacturing India Pvt Ltd, will start the construction of the first phase of the world’s largest single-site state-of-the-art Chlorinated Polyvinyl Chloride (CPVC) resin facility in the latter part of the year 2023, the company said in an exchange filing on June 19. 

The resin-manufacturing plant will have a production capacity of around 100,000 metric tonnes and is being set up in Vilayat, Gujarat. 

The Aditya Birla Group flagship company said in the filing that the project implementation plan is being finalised and any further developments would be shared soon. 

Grasim and Lubrizol announced the plant and signed a definitive agreement for setting up the same on October 30, 2020. The first phase of the plant was planned to commence production last year. However, the coronavirus outbreak prevented the project work from taking off. 

Shares of Grasim Industries were trading at Rs 1,770.65, 0.57% lower from the previous close on the National Stock Exchange.