Promoted by Ramesh Jain and incorporated in Jan.'92, Goodearth Organic (India) was set up in Ankleshwar as a 100% EOU to manufacture monochloro acetic acid (inst. cap. : 3000 tpa) and meta chloro aniline (inst. cap. : 720 tpa). These materials are used in agro-chemicals, insecticides, dyes and intermediates, pigments and pharmaceuticals. The project was mainly financed by a public issue in Dec.'92. The company also allotted 12 lac shares at a premium of Rs 30 per share to promoters / associates on a preferential basis in Jun.'90. It has tied up with Chemet System, Australia, for the technology for MCA adopting the hydrogenation route (which is less polluting) instead of the conventional iron reduction route.Goodearth has even entered into an agreement with Sam M G Trading, Singapore, to sell its products in the South-East Asian market. In 1994-95, the company earned foreign exchange worth Rs 2.64 cr.