Deepak Chem to Invest Rs 9,000 Cr in Gujarat
By Rediff Money Desk, MUMBAI Jan 31, 2024 21:53
Deepak Chem Tech will invest Rs 9,000 crore to establish chemical manufacturing units in Dahej, Gujarat, creating 1,300 jobs. The project is expected to be operational by 2027.
Mumbai, Jan 31 (PTI) Deepak Chem Tech, a wholly-owned subsidiary of Deepak Nitrite, on Wednesday said it has inked an agreement with the Gujarat government to invest around Rs 9,000 crore to establish projects at Dahej.
Under the memorandum of understanding, the company will invest Rs 9,000 crore to set up units to manufacture chemicals at Dahej, expected to commence operations in 2027, Deepak Chem Tech (formerly Deepak Clean Tech) said in a regulatory filing.
This investment is likely to create about 1,300 direct and indirect employment opportunities, it added.
Earlier, the company had expressed its intention to invest around Rs 9,000 crore during Vibrant Gujarat Global Summit 2024 held on January 10-12.
The proposed investment will help the country reduce its imports, the company said.
Under the memorandum of understanding, the company will invest Rs 9,000 crore to set up units to manufacture chemicals at Dahej, expected to commence operations in 2027, Deepak Chem Tech (formerly Deepak Clean Tech) said in a regulatory filing.
This investment is likely to create about 1,300 direct and indirect employment opportunities, it added.
Earlier, the company had expressed its intention to invest around Rs 9,000 crore during Vibrant Gujarat Global Summit 2024 held on January 10-12.
The proposed investment will help the country reduce its imports, the company said.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...