Godrej Industries Ltd. on Friday said its chemicals division plans to invest Rs 600 crore over the next four years in the expansion of its unit at Valia in Gujarat.
In a regulatory filing, the company said Godrej Industries Ltd (Chemicals Division) has signed a non-binding Memorandum of Understanding (MoU) with the Gujarat government for the purpose.
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"As part of the MoU, the company may plan to invest Rs 600 crore over the next four years on the significant expansion in Valia with employment of around 250 (people)," it said.
The MoU paves the way for expansion at Valia where Godrej Industries already has a manufacturing facility. The unit located in the Bharuch district of the state produces a wide range of oleochemical products derived from organic material catering to various market segments, including personal care, pharmaceutical and food industries, the company said.
"This strategic collaboration underscores our commitment to growth, innovation, and contributing to the economic development of the region," Godrej Industries (Chemicals) CEO Vishal Sharma said.
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