Godrej Industries Ltd (Chemicals Division) has recently entered into a non-binding Memorandum of Understanding (MoU) with the Gujarat government, as revealed in an official regulatory filing.
The agreement signals a potential substantial expansion for Godrej Industries in Valia, with an anticipated investment of Rs 6 billion ($72.2 million) over the next four years. The expansion project aims to create employment opportunities for approximately 250 individuals.
The MoU serves as a gateway for Godrej Industries to enhance its production facilities in Valia. The Valia facility, situated in the Bharuch region of the state, currently specializes in manufacturing a diverse range of oleochemical products derived from organic materials. These products find applications in various industries, including food, pharmaceuticals, and personal care.
Vishal Sharma, the CEO of Godrej Industries (Chemicals), emphasized the strategic significance of this collaboration, stating, ‘This strategic collaboration underscores our commitment to growth, innovation, and contributing to the economic development of the region.’