DACL Fine Chem Ltd, a Vadodara-based subsidiary of Diamines and Chemicals Ltd, is set to establish a Rs. 500-crore speciality chemicals production facility at Kakinada SEZ in coastal Andhra Pradesh, under a Memorandum of Understanding signed with Kakinada SEZ Ltd.
The facility will arise on 50 acres within the SEZ and will manufactures high-value chemicals for domestic and global markets. The investment is anticipated to create substantial direct and indirect employment in the region.
The agreement was officialized by of Mr. Ram Reddy Ojili, Managing Director & CEO of Kakinada SEZ Ltd, and Mr. Amit Mehta, Chairman of DACL Fine Chem, in the presence of senior officials from both organisations. Mr. Ojili stated the investment demonstrated the confidence leading production companies have in the SEZ’s infrastructure and strategic location.
Kakinada SEZ, promoted as Auro Industrial City, spans 5,600 acres and is amongst India’s largest port-incorporated industrial parks, with multimodal connectivity and proximity to the upcoming Kakinada Gateway Port. The park hosts industries throughout chemicals, pharmaceuticals, food processing, engineering, and clean energy.
DACL Fine Chem specializes in specialty chemicals and chemical intermediates for the pharmaceutical, agrochemical, and coatings industries.
