Aarti Industries has entered into a $125 million (Rs 900 crore) multi-year contract with a Global Chemical Conglomerate. The contract entails supply of a high value specialty chemical intermediate for a period of 10 years.
The plant is expected to commission in Q4 FY 2021, with average annual revenue of $ 12.5 million. The end use of the product is one of the major new growth initiative for the customer. The supply quantities of the contract will be used to seed the market and increase the potential market size of the product.
AIL estimates a capital investment of approx. $15 milllon to setup a commercial scale manufacturing facility for the production of this speciality chemical intermediate. The upcoming facility will be located in the state of Gujarat.
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