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Government of Gujarat and Deepak Chem Tech Limited ink MoU worth ₹5000 crore

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Under the chairmanship of Gujarat Chief Minister Shri Bhupendra Patel, the State Government signed an MoU with Deepak Chem Tech Limited- DCTL in Gandhinagar in the presence of Industries Minister Shri Balwantsinh Rajput and Minister of State for Industries Shri Harsh Sanghavi.

 

Following the mantra of ‘Aatmanirbhar Bharat’ given by Prime Minister Shri Narendra Modi, the state government, under Chief Minister Shri Bhupendra Patel, has taken important steps to make Gujarat self-reliant in petrochemical intermediates sector.

 

Additional Chief Secretary of Industries and Mines Department Shri S. J. Haider Haider and DCTL Director Mr. Meghav Mehta exchanged this MoU.

 

Under this MoU, Deepak Chem Tech Limited will set up 3 projects to manufacture specialty chemicals, phenol/acetone and bisphenol at Dahej with a total investment of Rs.5000 crore. 1500 employment opportunities will be generated trough this.

 

The director of the company said that these projects will be operational by 2026-27.

 

Industries Minister Mr. Balwantsinh Rajput gave details of the state government’s incentive policies for industries and the resulting capital investment in the industry sector in Gujarat.

 

Chairman of DCTL’s parent company Deepak Nitred Limited Shri Deepak Mehta appreciated the support and encouragement provided by the state government to the industries during COVID pandemic. He said, “The current market of petrochemicals intermediates is USD 180 billion which will increase to USD 650 billion in few years. Gujarat can develop the capacity to produce 50% i.e. USD 300 billion worth of petrochemical intermediates.”

Chief Principal Secretary to Chief Minister Shri. K. Kailashnathan, Chief Secretary Shri Rajkumar, Industries Commissioner Mr. Sandeep Sagale and senior officials were present during the MoU exchange.

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