Panama Petrochem Limited Receives License from Directorate of Industries Safety & Health to Commence Operations
Panama Petrochem Limited has secured a statutory license from the Directorate of Industries Safety & Health. This approval grants the company authorization to begin operations at its factory located in Lodha Industrial and Logistic Park II (LILP II) in Thane, Maharashtra.The licensing pertains to the commencement of operations for the facility situated at LILP II in Village Nahren, Taluka- Ambernath, District-Thane, as per the details provided by the company.
According to the regulatory confirmation, obtaining this license authorizes Panama Petrochem Limited to manufacture the specified petroleum speciality products. The license is valid until 29-June-2035.
The facility licensing was granted after a statutory review process. Regarding the financial implications of this approval, the company reported no immediate monetary impact from the license itself.
Key details concerning the factory operations and licensing status are summarized in the following table:
| Parameter | Detail |
|---|---|
| Regulatory Authority | Directorate of Industries Safety & Health |
| Nature of Approval | License obtained to manufacture petroleum speciality products |
| Authorization Reason | Statutory license obtained to operate and run the factory operations |
| Estimated Impact | No immediate monetary impact; the licence facilitates the commencement of operations. |
| Penalty | N/A |
| Validity Period | 29-June-2035 |
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