NEW DELHI: DCM Shriram Ltd, a leading Chlor Alkali manufacturer, plans to invest Rs 12,000 crore for manufacturing chemical and petrochemical products in Bharuch, Gujarat by 2028.
The company said it has signed a Memorandum of Understanding (MoU) with the Gujarat government in this regard on Wednesday in the presence of Chief Minister Bhupendrabhai Patel at a ceremony organised as part of the Vibrant Gujarat Global Summit to be held on January 10-12.
“DCM Shriram signed an MoU with the Government of Gujarat to invest a proposed Rs 12,000 crore in the manufacturing of chemical and petrochemical products in Bharuch by 2028, “ the company said in a statement on Thursday. Currently, the company has significant Chlor Alkali facilities in Bharuch and aims at increasing the existing capacities while adding new products to its Chlor-Alkali portfolio, it added.
Besides the chlor-vinyl business, DCM Shriram is also into agri-rural and value-added businesses.