Aarti Industries and UPL entered into a joint venture (JV) 50-50% partnership for manufacturing and marketing of specialty chemicals that find application in multiple downstream industries.
This arrangement is a first of its kind partnership between two large Indian companies to develop, manufacture and market the downstream and value-added chemical intermediates for global markets and foster India’s ambition to become self-reliant and make for the world.
The companies will provide key raw materials for manufacturing the desired chemicals.
The JV company is expected to commence commercial supplies by Q1FY27 with a peak annual revenue potential of Rs 400-500 cr in next 2-3 years.
Augene Chemical Private Limited (ACPL) will be a proposed entity for JV between the companies.
Both the companies propose to initially invest Rs 12.50 cr each, in equity share capital of ACPL.
it is proposed to invest Rs 137.50 cr each in one or more tranches in the form of equity capital/preference share capital/debt.
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