Deepak Chem Tech, a wholly-owned subsidiary of Deepak Nitrite, on Wednesday said it has inked an agreement with the Gujarat government to invest around Rs 9,000 crore to establish projects at Dahej.
Under the memorandum of understanding, the company will invest Rs 9,000 crore to set up units to manufacture chemicals at Dahej, expected to commence operations in 2027, Deepak Chem Tech (formerly Deepak Clean Tech) said in a regulatory filing.
This investment is likely to create about 1,300 direct and indirect employment opportunities, it added.
Earlier, the company had expressed its intention to invest around Rs 9,000 crore during Vibrant Gujarat Global Summit 2024 held on Jan. 10-12.
The proposed investment will help the country reduce its imports, the company said.
RECOMMENDED FOR YOU
Tech Mahindra, HCLTech, Coforge Remains Motilal Oswal's Top Stock Pick In IT Pack — Here's Why
Jul 30, 2025
Patel Chem Specialities IPO Allotment Today: How To Check Status, Latest GMP And More
Jul 30, 2025
Petronet LNG Q1 Results Review— PL Capital Upgrades Rating To 'Hold' Due To Decline In The Stock Price
Jul 28, 2025
Meeting Held To Clear Bottlenecks In Rs 36,296-Crore Infra Projects In Gujarat, Rajasthan
Jul 07, 2025
POPULAR