Arete Group To Invest Rs 1,200 Crore For Phase Two Of Payal Industrial Park In Gujarat

Arete Group on Monday said it will invest Rs 1,200 crore to develop infrastructure in its industrial park at Dahej in Gujarat. In a statement, the company said it has launched the second phase of Payal Industrial Park at Dahej, within the Petroleum, Chemicals and Petrochemicals Investment Region. The second phase is spread across 850 acres.

Arete Group, established in 1990, has a presence in businesses like industrial parks, real estate, retail, and investments.

"Arete Group will invest approximately Rs 1,200 crore in the overall Infrastructure development in the park across multiple phases," the statement said.

The company is targeting industries like agrochemicals, pesticides, specialty chemicals, inorganic chemicals, dyes & pigments chlor-alkali and other such chemical industries for setting up a base in its industrial park.