GACL ventures with Dow Chemicals
City based Gujarat Alkaslies and Chemicals Limited (GACL) has formed joint venture with $59 billion Dow Chemicals.
By PTI |
VADODARA: City based Gujarat Alkaslies and Chemicals Limited (GACL) has formed joint venture with $59 billion Dow Chemicals, a US based multinational company, for setting up a Rs 600 crore plant at Dahej.
This is GACL's first venture with a multinational company, said Managing Director, GACL, Guruprasad Mohapatra.
He said that this plant will produce two lakh tonnes chlormathan group of chemicals per annum.
The new joint venture company is registered as "DOW-GACL Solvdenture Ltd", which has 50:50 equity partnership.
The plant will be commissioned 2011, Mohapatra said. Dow Chemicals is a world leader in providing innovative chemicals plastic and agricultural products services around the globe with presence in different countries, Mohapatra said.
Mohapatra said GACL has already approved an ambitious investment plan of Rs 2600 crores.
Maintaining its leadership in caustic-chloride industry with 18 per cent market share, the company has diversified into value added products like sodium cyanide, chloromathane, hydrogen peroxide, potassium carbonate, and phospheric acodum chloride etc.
With new DOW-GACL Solventure LIMITED in the field, there will be a sea change in the entire chloromethane scenario, as it will increase the total chloromethane production by 2.5 times, Mohaspatra said.
This is GACL's first venture with a multinational company, said Managing Director, GACL, Guruprasad Mohapatra.
He said that this plant will produce two lakh tonnes chlormathan group of chemicals per annum.
The new joint venture company is registered as "DOW-GACL Solvdenture Ltd", which has 50:50 equity partnership.
The plant will be commissioned 2011, Mohapatra said. Dow Chemicals is a world leader in providing innovative chemicals plastic and agricultural products services around the globe with presence in different countries, Mohapatra said.
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This RS 600 crore plant is being set up at six hectares of land at Dahej where GACL has three existing plants. Mohapatra said GACL has already approved an ambitious investment plan of Rs 2600 crores.
Maintaining its leadership in caustic-chloride industry with 18 per cent market share, the company has diversified into value added products like sodium cyanide, chloromathane, hydrogen peroxide, potassium carbonate, and phospheric acodum chloride etc.
With new DOW-GACL Solventure LIMITED in the field, there will be a sea change in the entire chloromethane scenario, as it will increase the total chloromethane production by 2.5 times, Mohaspatra said.
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