Deepak Chem Tech, a fully owned subsidiary of Deepak Nitrite, has announced that it has entered into an agreement with the government of Gujarat for an investment of approximately Rs 9,000 crore. The investment is earmarked for the establishment of chemical manufacturing projects in Dahej.
Deepak Chem Tech, based in India, is one of the leading chemical manufacturing companies with a global presence. Established with a vision to provide high-quality and sustainable chemical solutions, Deepak Chem Tech has grown into a trusted name in the industry.
The company specializes in manufacturing a diverse range of chemicals, including specialty chemicals and intermediates used in various sectors such as agriculture, pharmaceuticals, and industrial processes. It continues to play a crucial role in meeting the evolving needs of its customers while adhering to the highest standards of safety and quality in chemical production.
According to the terms outlined in the memorandum of understanding, Deepak Chem Tech (formerly known as Deepak Clean Tech) will deploy the Rs 9,000 crore investment towards the setup of chemical manufacturing units in Dahej, with operations expected to commence in the year 2027, as per the details disclosed in a regulatory filing.
During the Vibrant Gujarat Global Summit 2024 held on January 10-12, the company had conveyed its intention to invest the aforementioned amount. The investment is poised to play a pivotal role in generating approximately 1,300 employment opportunities, both directly and indirectly, thereby contributing to the socio-economic landscape of the region.
Highlighting the broader impact of this substantial investment, Deepak Chem Tech emphasized that it aligns with the objective of reducing the country’s dependency on imports. The company envisions that the infusion of Rs 9,000 crore into these projects will not only bolster the domestic chemical manufacturing sector but also fortify the nation’s self-sufficiency in the production of key chemicals.
