Aarti Industries signs Rs 10,000 crore multi-year supply deal

Speciality chemical firm Aarti Industries' today said it has signed Rs 10,000 crore multi- year exclusive supply contract with a global chemical conglomerate.
"This contract entails supply of a high value speciality chemical intermediate over a period of 20 years," the company said in a BSE filing.
Shares of the company were trading higher by 4.65 per cent at Rs 1,118.35 on BSE.
Aarti Industries said it will invest USD 35-40 million to set up a dedicated large scale manufacturing facility for the production of this speciality chemical intermediate.
"As a part of this contract terms, the customer shall provide USD 42 million as an advance to the company in instalments, which shall be adjusted against supplies in future," the company added.

Aarti Industries is India's leading producer of Benzene based basic and intermediate chemicals. It is one of the leading suppliers of dyes, pigments, agro-chemicals, pharmaceuticals and rubber chemicals to global manufacturers.