A manufacturer of industrial chemicals and fertilizers, Deepak Fertilizers and Petrochemicals Corporation, announced that it has entered into a long-term, legally binding deal for the offtake and supply of nitric acid with Aarti Industries, valued at over Rs8,000 crore.
The supply arrangement will go into effect on April 1, 2023, according to a statement from DFPCL, which added that the agreement is anticipated to be signed by the end of this calendar year.
Deepak Fertilizers and Petrochemicals Corporation Ltd (DFPCL) and Aarti Industries Ltd (AIL) inked a binding term agreement for a 20-year period that will offer specified volume commitments with supply-or-pay and take-or-pay responsibilities by either company, thus providing enough assurance, financial stability, and preserving the economic interests of both DFPCL and AIL.
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