 "Pharmaceuticals, drugs, pharma industry, medical, health, lab")
Speciality chemicals and pharmaceuticals manufacturer Aarti Industries Ltd signed a supply contract with a U.S. affiliate of Saudi Basic Industries Corp (SABIC) worth $1.56 billion.
Aarti Industries will supply a high value speciality chemical intermediate to SABIC Innovative Plastics US LLC over a period of 20 years.
Aarti will invest around $35 million to $40 million to set up a manufacturing facility in Gujarat which will be used as an export-only unit.
Shares of the Mumbai-based company were up 5.7 per cent, as of 0651 GMT, after rising as much as 8.1 per cent.
