Aarti Industries (AIL) has signed a multi-exclusive supply contract worth Rs 10,000 crore with a global chemical conglomerate.
As per the contract, the company will supply high value speciality chemical intermediate over a period of 20 years.
The supplies are expected to commence from 2020. The company will set up a large scale manufacturing facility for production of speciality chemical intermediate. It will make an investment of USD 35 million to USD 40 million to set up the facility.
The upcoming facility will be 100 percent export oriented unit in Gujarat.
As a part of this contract terms, the chemical conglomerate will provide USD 42 millions an advance to AIL in installments, which will be adjusted against the supplies in future.