Mumbai, July 6 -- DACL Fine Chem will invest Rs five billion (Rs 5 bn) to set up a speciality chemicals manufacturing facility at the Kakinada Special Economic Zone following the signing of a memorandum of understanding on Monday. The Gujarat-based firm confirmed the commitment in a release issued from Kakinada.
The project is slated for 50 acres within the SEZ and will produce high-value speciality chemicals and chemical intermediates for domestic and overseas markets. The release said the development is expected to generate substantial direct and indirect employment and to bolster the manufacturing ecosystem in coastal Andhra Pradesh.
The memorandum was signed by Kakinada SEZ Managing Director and Chief Executive Officer Ram Reddy Ojili and by DACL Fine Chem Chairman Amit Mehta in the presence of senior officials. SEZ leadership described the investment as reflecting confidence in the zone's infrastructure, strategic location and integrated industrial ecosystem and indicated it would help position Kakinada as a preferred destination for advanced manufacturing.
Kakinada SEZ, promoted as Auro Industrial City, is spread over 5,600 acres and is among India's largest port-integrated industrial parks, offering multimodal connectivity and proximity to the upcoming Kakinada Gateway Port. Its infrastructure supports sectors such as chemicals, pharmaceuticals, food processing, engineering and clean energy, which the release cited as factors attracting manufacturing commitments.
DACL Fine Chem, a subsidiary of Diamines and Chemicals Limited, manufactures speciality chemicals, performance chemicals and intermediates used in pharmaceuticals, agrochemicals, polymers, plastics, paints and coatings and has expertise in ethyleneamines for domestic and overseas markets. The firm presented the investment as a step to deepen its manufacturing footprint and export capabilities and the release said it would further strengthen Andhra Pradesh's role in speciality chemicals manufacturing and export-oriented industry.
Published by HT Digital Content Services with permission from Construction World.