Deepak Chem Tech Limited (formerly known as Deepak Clean Tech Limited), a wholly owned subsidiary of Deepak Nitrite Limited, signed a Memorandum of Understanding (MoU) with Government of Gujarat on January 31, 2024.The company plans to invest around ₹9,000 crore to establish projects at Dahej.
The company plans to build production facilities for advanced materials and products that power future solutions such as polycarbonate resins and compounds, methyl methacrylate (MMA), its polymer poly methyl methacrylate (PMMA) resins and compounds and aniline.
As per the press release, polycarbonate resin and compounds are used extensively in electrical and electronic components, high-end telecommunications devices, automotives, aviation and defence, renewable energy, medical devices and consumer durables.
The plant will also manufacture MMA and PMMA resins and compounds, used in construction, lighting, automotives, TV and smartphone displays, healthcare devices and cabinets, furniture. Similarly, aniline: a primary building block for making isocyanates/urethanes, rubber chemicals, dyes and intermediates, important pharmaceuticals, agrochemical intermediates, specialty chemicals, electronic chemicals and in coatings and certain polymer applications will be a focus of the investment.
Maulik Mehta, CEO and ED said, “Deepak’s investment strategy is directed at supporting the development of a resilient and self-sufficient chemical industry. These products fit well within the company’s ‘Right to Win’ criteria. They will embolden considerable investment into downstream consumption for applications that will power the India of tomorrow”.
