Sumitomo Chemical, a Tokyo-based agrochemical manufacturer, to develop its new agrochemical plant in the western part of Gujarat. The company plans to acquire an anticipated 50 Acres of land parcel for the same.
Sumitomo Chemical will invest an estimated initial capital of USD 35 Million in the development, which is expected to increase during the mid to long-term with the expansion of the plant. The facility will produce active ingredients in agrochemicals and is scheduled to be completed by 2027.
The upcoming agrochemical plant will be the company’s third plant in India. It is anticipated to increase the company’s annual production capacity by 80% post-completion.
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