New Delhi: Gujarat-based DACL Fine Chem will set up specialty chemicals manufacturing facility at Kakinada SEZ with a proposed investment of Rs 500 crore, following the signing of an MoU on Monday.
The project will come up on 50 acres within Kakinada Special Economic Zone (SEZ) and manufacture specialty chemicals for domestic and international markets, generating direct and indirect employment while strengthening the region's manufacturing base.
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"Gujarat-based DACL Fine Chem has signed an agreement to set up a specialty chemicals manufacturing facility at Kakinada SEZ with a proposed investment of Rs 500 crore," Kakinada SEZ Limited Managing Director and CEO Ram Reddy Ojili said in a release.
The MoU was signed by Ojili and DACL Fine Chem Chairman Amit Mehta.
He said the investment reflects the growing confidence of leading manufacturing companies in the industrial park's infrastructure, strategic location and integrated ecosystem.
The CEO expressed confidence that the project would further position Kakinada as a preferred destination for specialty chemicals and advanced manufacturing industries.
Promoted as Auro Industrial City, Kakinada SEZ is a 5,600-acre port-integrated industrial park offering infrastructure and utilities for sectors, including chemicals, pharmaceuticals, food processing, engineering and clean energy.
The industrial park also benefits from multimodal connectivity and proximity to the upcoming Kakinada Gateway Port, making it suitable for export-oriented and large-scale manufacturing industries.
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DACL Fine Chem Limited, a subsidiary of Diamines and Chemicals Limited, manufactures specialty chemicals, chemical intermediates and performance chemicals catering to pharmaceuticals, agrochemicals, polymers, plastics, paints and coatings industries.
The proposed project marks another milestone in Kakinada SEZ's efforts to attract high-value manufacturing investments and reinforces Andhra Pradesh's emergence as a destination for specialty chemicals and export-oriented industries.
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