This is GACL's first venture with a multinational company, said Managing Director, GACL, Guruprasad Mohapatra. He added that this plant will produce two lakh tonne per annum of the chlormathan group of chemicals.
The new joint venture company is registered as" DOW-GACL Solvdenture", which has a 50:50 equity patnership. The plant will be commissioned 2011, Mohapatra confirmed.
Dow Chemicals is a world leader in providing innovative chemicals, plastics and agricultural product services around the globe, with a presence in various countries.
This Rs 600 crore plant is being set up on six hectares of land at Dahej where GACL already has three existing plants. Mohapatra said GACL has already approved an ambitious investment plan of Rs 2,600 crores.
Maintaining its leadership in caustic-chloride industry with 18 per cent market share, the company has diversified into value added products like sodium cyanide, chloromathane, hydrogen peroxide, potasium carbonate, and phospheric acodum chloride etc.
With this new merged corporation in the field, there will be a sea change in the entire chloromethane scenario, as it will increase total production to 2.5 times the total, Mohapatra said.
