3 projects to set up in Petrochemicals Intermediate Sector in Gujarat with 1500 employment opportunities

Gandhinagar: Following the mantra of ‘Atmanirbhar Bharat’ given by PM Narendra Modi, the Gujarat government has taken important steps to make Gujarat self-reliant in the petrochemicals intermediate sector under the leadership of Chief Minister Bhupendra Patel.

The state government has signed an MoU with Deepak Chemtech Limited-DCTL for an investment of 500 crores in the presence of CM Bhupendra Patel in Gandhinagar. Industries Minister Balwant Singh Rajput and Minister of State for Industries Harsh Sanghvi were also present on the occasion. The MoU was exchanged by SJ Haider, Additional Chief Secretary, Industries and Mines Department, State Government and Meghav Mehta, Director, DCTL.

Under the MoU, Deepak Chemtech Limited will set up 3 projects for the manufacture of specialty chemicals, phenol/acetone and bisphenol with a total investment of Rs.5000 crores. Consequently, nearly 1500 employment opportunities will be created for people. The projects will be commissioned by the year 2026-2027, the director said. On this occasion Industries Minister Balwant Singh Rajput gave a detailed account of the state government’s promotional policies for industries and the resulting capital investment in the industry sector in Gujarat.

Deepak Mehta, Chairman, Deepak Nitrate Limited, the parent company of DCTL, specially appreciated the cooperation and encouragement given by the state government to the industries during the Covid-19 epidemic. Mehta said, ” The current market of petrochemical intermediates is 180 billion US dollars, which will increase to 650 billion US dollars in a few years. Gujarat can develop the capacity to produce 50% i.e. $300 billion worth of petrochemical intermediates in this sector.