Croda India, a wholly-owned subsidiary of UK-based Croda International Plc and a leading player in specialty chemicals, has announced plans to construct a new manufacturing facility at Dahej in the state of Gujarat.
The company has earmarked an investment of Rs 5 billion for the first phase of the project, which will focus on producing consumer care products. The groundbreaking ceremony for the new plant was held on Wednesday.
Croda India has cited the increasing regional demand for its consumer care products as well as the burgeoning opportunities in the pharmaceutical and crop care sectors as the reasons behind this investment. The new plant is expected to boost the company’s manufacturing capacity and enable it to cater to the fast-growing demand for its products in Asia.
“Our decision to invest in Dahej underscores our commitment to the Indian market and our belief in its enormous growth potential,” said Murali Duvvuri, Managing Director of Croda India. The company has already been present in India for over 20 years and has a manufacturing and innovation center in Navi Mumbai, in addition to offices in Ahmedabad.
According to Croda India, the new plant will not only increase its manufacturing presence but also provide advanced and sustainable solutions to its customers. “We are confident that this investment will strengthen our position in the Indian market and further enhance our ability to meet the evolving needs of our customers,” added Duvvuri.