Gujarat Alkalies signs Joint Venture Agreement with Dow Europe GmbH, (DOW)
Gujarat Alkalies & Chemicals Ltd (GACL) has informed BSE that the Company has signed an agreement with Dow Europe GmbH, on April 16, 2008 to set up a Joint Venture Company for manufacture of 2,00,000 TPA of Chlorinated Organics at Dahej at an estimated Project Cost of Rs 600 Crore. GACL will supply approx. 600 MT Chlorine per day to the JV Company. The shareholding of GACL: DOW in the JV Company will be 50% each. The synergy of GACL & Dow’s strengths will lay a strong foundation for mutual future growth.
Dow Europe GmbH is a wholly owned subsidiary of The Dow Chemical Company. Dow Group is a global leader in chemical industry and largest supplier of chlorinated organic products. Dow currently produces Chloromethances at four site around the World with a total capacity of 5,00,000 MTA. Dow’s best in class process technology to produce Chloromethances will help minimize production of CTC. The JV Company will primarily cater to the demand of SAARC Countries.
Tags: Gujarat Alkalies