Deepak Chem Tech aims to invest Rs. 9,000 crores in Gujarat

Deepak Chem Tech aims to invest Rs. 9,000 crores in Gujarat

The company plans to manufacture polycarbonate resins, MMA and PMMA resins and aniline at Dahej

  • By ICN Bureau | February 01, 2024

Deepak Chem Tech Limited (formerly known as Deepak Clean Tech Limited), a wholly owned subsidiary of Deepak Nitrite Limited, signed a Memorandum of Understanding (MoU) with Government of Gujarat on January 31, 2024, with an intent to invest around Rs. 9,000 crores to establish projects at Dahej, in the State of Gujarat.

During the 10th edition of the Vibrant Gujarat Global Summit 2024 held on January 10-12, 2024, Deepak Chem Tech had expressed its intention to invest in the fast-growing Chemical hub of Gujarat.

The company plans to build world- scale production facilities for advanced materials and products that power future solutions such as Polycarbonate Resins & Compounds, Methyl Methacrylate (MMA), its polymer Poly Methyl Methacrylate (PMMA) Resins and Compounds and Aniline.

Sharing his perspective on the MoU, Maulik Mehta, CEO and ED, Deepak Nitrite Limited, said, “Deepak's investment strategy is directed at supporting the development of a resilient and self-sufficient chemical industry. These products fit well within the company's 'Right to Win' criteria. They will embolden considerable investment into downstream consumption for applications that will power the India of tomorrow”.

The MoU was signed in the presence of dignitaries from Government of Gujarat, S J Haider, Additional Chief Secretary, Industries & Mines Department; Kuldeep Arya, Addl. Industries Commissioner and Dhaval Patel, Commissioner, Geology & Mining along with Girija Paliwal, President – S&M, Deepak Phenolics Limited and the team from Deepak Group.

Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2024, 11-12 July 2024, Mumbai

Other Related stories