Deepak Nitrite Ltd., through its subsidiary, has committed to investing INR 5,000 crore in the establishment of a manufacturing facility in Gujarat. A collaboration agreement has been signed between Deepak Chem-Tech Ltd. and the Gujarat government to construct a specialized chemicals manufacturing plant for producing phenol, acetone, and bisphenol in Dahej and Nandesari, Gujarat.
This substantial investment is anticipated to create approximately 1,500 direct and indirect job opportunities, while also contributing to a reduction in India’s import expenditure.
Deepak Nitrite has outlined a capital expenditure plan of INR 2,500 crore for the next two years, as they strive to double their revenues within the next four to five years, focusing on downstream products.
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