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Deepak Chem Tech inks pact to invest Rs 9,000 cr in Gujarat

Thursday, 01 Feb 2024
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Deepak Chem Tech, a wholly-owned subsidiary of Deepak Nitrite has signed a memorandum of understanding (MoU) with the Gujarat government to invest around Rs 9,000 crore in the state. The investment would be utilised towards establishing projects at Dahej.

Under the MoU, the company will set up units to manufacture chemicals, and expect to commence operations in 2027. This investment is likely to generate about 1,300 direct and indirect employment opportunities in the region. The proposed investment is also expected to help reduce the imports into the country.

Earlier, Deepak Chem Tech (formerly Deepak Clean Tech) had expressed its intent to invest around Rs 9,000 crore during Vibrant Gujarat Global Summit 2024.

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