A Baroda-based public limited company, Suryadeep Salt Refinery and Chemical Works was incorporated in Feb.'95. It is promoted by Rajendrasinh Rathod, S P Srivastava and S G Bhagwat. The company is setting up a project at Jamnagar, Gujarat, to manufacture refined iodised salt and drinking water as by-product with an installed capacity of 19,800 tpa and 4,95,00,000 ltr pa respectively. The company entered into a MoU with Niro Kestner, France, for implementing the project. It came out with a public issue of 58,50,000 equity shares of Rs 10 each for cash at par aggregating Rs 585 lac in Mar.'96 to part-finance its project.