ENA State 2023-05-24 18:10:29 <p><span style="font-size:14px"><strong>Ahmedabad, May 24 (KNN)</strong> The Gujarat Government on Tuesday signed an agreement with Deepak Chem Tech as part of the state governments commitment to help India in achieving self-reliance in the petrochemical intermediates sector.</span></p> <p><span style="font-size:14px">Under the agreement, Deepak Chem Tech will establish three projects in Dahej for the production of specialty chemicals, phenol/acetone, and bisphenol. </span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">These projects will require a total investment of Rs 5,000 crore and are expected to generate employment opportunities for around 1,500 people.</span></p> <p><span style="font-size:14px">The MoU was signed by the Gujarat Chief Minister Bhupendra Patel in the presence of Industries Minister Balwantsinh Rajput and Minister of State for Industries Harsh Sanghavi in Gandhinagar.</span></p> <p><span style="font-size:14px">Speaking on the occasion, Gujarat CM said that this collaboration is the state governments commitment towards the vision of Aatmanirbhar Bharat. </span></p> <p><span style="font-size:14px">As per reports, the projects are likely to be operational by the financial year 2026 27.</span></p> <p><span style="font-size:14px">Deepak Mehta, Chairman of Deepak Chem Techs parent company Deepak Nitrite Limited, expressed appreciation for the state governments support and encouragement to the industries, particularly during the challenging times of the Covid pandemic. </span></p> <p><span style="font-size:14px">The current market for petrochemical intermediates stands at USD 80 billion, and it is projected to grow to USD 650 billion in the coming years. Gujarat has the potential to scale up and account for 50 per cent of this market, amounting to USD 300 billion worth of petrochemical intermediates, he said. <em><strong>(KNN Bureau)</strong></em></span></p> 33459 https://knnindia.co.in/news/newsdetails/state/gujarat-govt-inks-mou-with-deepak-chem-tech-for-petrochemical-manufacturing 2023-05-24 18:10:29 knnindia.co.in