Deepak Chem Tech Invests Rs 9,000 Crore in Gujarat

Deepak Chem Tech, a wholly-owned subsidiary of Deepak Nitrite, has recently inked a Memorandum of Understanding (MoU) with the Gujarat government, solidifying its commitment to invest approximately Rs 9,000 crore in the state. The substantial investment is earmarked for establishing projects in Dahej.

As per the terms outlined in the MoU, the company is poised to construct manufacturing units dedicated to chemicals, with operational commencement anticipated by 2027. This strategic investment is projected to create approximately 1,300 direct and indirect employment opportunities within the region, contributing significantly to local economic growth. Moreover, the envisioned investment is poised to play a pivotal role in reducing the country's reliance on imports.

Notably, during the Vibrant Gujarat Global Summit 2024, Deepak Chem Tech (formerly known as Deepak Clean Tech) had initially conveyed its intent to channel around Rs 9,000 crore into these ventures, underscoring its commitment to fostering industrial and economic development in the region.

News by Rahul Yelligetti