Deepak Chem Tech signs agreement with Gujarat government to invest ₹9,000 Crore

1 Feb 2024 , 01:10 PM

Deepak Chem Tech, a wholly-owned subsidiary of Deepak Nitrite, said on Wednesday that it has signed a deal with the Gujarat government to spend around ₹9,000 Crore in projects in Dahej.

The business would invest ₹9,000 Crore under the memorandum of understanding to establish chemical manufacturing plants in Dahej, with operations slated to begin in 2027, Deepak Chem Tech (previously Deepak Clean Tech) stated in a regulatory filing.

Previously, the business announced plans to invest over ₹9,000 Crore during the Vibrant Gujarat Global Summit 2024, which took place from January 10 to 12.

Deepak Chem Tech is a public limited corporation that is based in Vadodara, Gujarat. The authorised share capital is ₹500 crore, whereas the total paid-up capital is ₹9.50 crore. Deepak Chem Tech Limited expects operational sales of under ₹1 crore for the fiscal year ending March 31, 2023.

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