Deepak Chem Tech has signed a memorandum of understanding (MoU) with the Government of Gujarat to set up projects for manufacturing specialty chemicals, phenol/acetone and bisphenol at Dahej and Nandesari in Gujarat. The company will invest around Rs 5,000 crore in next four years for this purpose.

The proposed investment is expected to generate around 1,500 direct and indirect employment opportunities.

The specialty chemicals serve the requirements of agro chemicals and pharmaceuticals industries, while phenol and acetone are used in varied end-user segments like laminates, plywood, paint, adhesives and others.

Bisphenol caters to epoxy and adhesives and is used as an important feedstock towards polycarbonate which affords wide applications across automotive, electronic and consumer goods, defense, medical equipment and others. The company was formerly known as Deepak Clean Tech.