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Deepak Chem Tech, A Subsidiary Of Deepak Nitrite, Inks The Latest Agreement For Establishing A Speciality Chemicals Plant With The Gujarat Government

Deepak Nitrite's subsidiary, Deepak Chem Tech is working on setting up a production facility in Gujarat, accounting for an expenditure of INR 5,000 crore. The contract for establishing a speciality chemicals plant has been signed by the company as well as the government in Gujarat.

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The plant will produce speciality chemicals like acetone, phenol, and bisphenol in the state's Dahej and Nandesari areas.

This investment will likely create direct and indirect employment for about 1,500 people.

Application Of Specialty Chemicals

These chemicals are widely employed in the pharmaceutical and agrochemical industries. Acetone and phenol find applications in end-user applications like plywood, paint, and adhesives, laminates, and pharma.

On the other hand, bisphenol is used for polycarbonate, adhesives, and epoxy, all of which find employment in several applications in the electronics, automotive, and consumer goods industries, along with medical and defence equipment.

In addition to the application spectrum, the investment might lower the country's reliance on imports as well.

The capital expenditure of INR 2,500 crore allocated for the task will carry out in the following two years, where they will strive to increase their profits by twice fold over the course of the next 4-5 years beginning in FY2023.

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According to the Procurement Resource article, Deepak Chem Tech, Deepak Nitrite's subsidiary, will be launching a speciality chemical manufacturing plant in Gujarat. The plant will reportedly produce speciality chemicals like acetone, phenol, and bisphenol, and the investment will likely generate employment for 1500 people.

The production facility is being set up to cater to end-user industries like plywood, paint, electronics, automotive, adhesives, laminates, pharma and consumer goods, along with medical and defence equipment. Along with the goal to cater to various end-user industries with its products, the company also aims to help lower dependence on foreign imports.