Meghmani to invest Rs 1kcr in chemical unit

AHMEDABAD: The Meghmani group of companies is planning to invest Rs 1,000 crore in two phases to set up a major chemicals complex near the Dahej SEZ. This chemicals complex will consist of a caustic and chlorine production facility, downstream products and other value-added chemicals according to sources in the government.

It will also have a captive power plant of about 40 mw, which would cost around Rs 160 crore. The group is also in the fray for taking over the state government’s 40% stake in Gujarat Alkalies & Chemicals (GACL) whenever the divestment process takes place. Meghmani group is interested in acquiring GACL’s caustic and chlorine facilities as these are the major raw materials for its main business of agro-chemicals.

The group’s flagship company Meghmani Organics is amongst the top 10 agro-chemical companies in India and is the largest pigment producer in the country.Meghmani CMD Jayantibhai Patel was part of the delegation from Gujarat that went to Japan and South Korea to rope in investors for the state.