- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
Gujarat Govt Signs Rs 5,000 Cr MoU For Petrochemical Manufacturing
Under the agreement, Deepak Chem Tech will establish three projects in Dahej for the production of specialty chemicals, phenol/acetone, and bisphenol
Photo Credit :
The Gujarat Government has signed a Rs 5000 Crore Memorandum of Understanding with Deepak Chem Tech on Tuesday. The MoU was signed by the Gujarat Chief Minister Bhupendra Patel, who said that this collaboration is the state government’s commitment towards the vision of Aatmanirbhar Bharat.
The ceremony took place in Gandhinagar in presence of Industries Minister Balwantsinh Rajput and Minister of State for Industries Harsh Sanghavi. Patel said that the collaboration will help India in achieving self-reliance in the petrochemical intermediates sector.
Under the agreement, Deepak Chem Tech will establish three projects in Dahej for the production of specialty chemicals, phenol/acetone, and bisphenol. These projects will require a total investment of Rs 5,000 crore and are expected to generate approximately 1,500 employment opportunities.
The projects are likely to be operational by the financial year 2026–27.
Deepak Mehta, Chairman of Deepak Chem Tech’s parent company Deepak Nitrite Limited, expressed appreciation for the state government’s support and encouragement to the industries, particularly during the challenging times of the Covid pandemic.
As per official information, Mehta said, “The current market for petrochemical intermediates stands at USD 80 billion, and it is projected to grow to USD 650 billion in the coming years. Gujarat has the potential to scale up and account for 50 per cent of this market, amounting to USD 300 billion worth of petrochemical intermediates.”