Kumar Mangalam Birla to invest $50 mn to build new chemical plant in Texas

Billionaire Kumar Mangalam Birla is investing $50 million to build a new chemical plant in the heart of the US oil-refining region as his Aditya Birla Group expands its North American footprint.
 

The project will involve a “state-of-the-art advanced materials site” on 35 acres in Beaumont, Texas, an area that’s home to some of the country’s biggest refineries and petrochemical complexes, according to a statement released Tuesday.

The plant will house research-and-development facilities and produce epoxies, according to the statement. Aditya Birla styles itself as the largest Indian investor in the US, with more than $15 billion in assets in the country.