| US-based chemical company, Ashland Inc, plans to set up a Rs 200-crore manufacturing facility in south Gujarat. |
| Ashland, a Fortune 500 company, has communicated to the state government that it requires 10 hectares of land for setting up an epoxy resin manufacturing facility. Epoxy resin is a thermosetting epoxide polymer that cures (polymerises and crosslinks) when mixed with a catalysing agent. |
| A couple of months back, a team from Ashland India (Pvt) had visited the state to look around for a suitable location. The company is in advance stages of finalising the land in the chemical belt in south Gujarat. |
| "They are looking for land. They have identified land both inside and outside our estate in Jhagadia," said a senior official in the Gujarat Industrial Development Corporation (GIDC). A senior official in the chief minister's office (CMO) said the company has decided to set up the plant in Gujarat. |
| While domestic investments have been flowing into the state, the Gujarat government is concerned about the FDI inflows. "FDI has been an area of concern for the government. Even during the Vibrant Gujarat Global Investors' Summit held earlier this year, FDI comprised only one per cent of the total MoUs signed," said an official in the CMO. |
| Ashland is mainly into the manufacturing of innovative products, services and solutions to customers around the globe, and has sales and operations in the US and in more than 100 countries worldwide, the company's website says. |
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