Kemrock Industries and Exports, manufacturers of reinforced polymer (FRP) composites, has signed a Memorandum of Understanding (MoU) to invest Rs 9,700 crore in Gujarat. The company plans to set up green field projects for defence and aerospace parks, carbon fibre plant, glass fibre plant and speciality polymers. The MoU was signed at the Vibrant Gujarat Summit, 2011.
The investment shall be made over next three to five years, near Vadodara where the company has started the process of land acquisition. The company may look for partners for setting up the green field projects.
Kemrock Industries recently signed a MoU with Hindustan Aeronautics, for the formation of a joint venture company to develop, manufacture and market aerospace grade carbon fibre pre-pegs along with its associated pre-pegs for defense and aerospace programmes in India.
