 "Aarti Industries starts commercial production at ethylation unit")
Specialty chemicals company Aarti Industries Ltd (AIL) has entered into a Rs 4,000 crore multi-year contract with a global agriculture company for supply of a high value agrochemical intermediary, used for making herbicides, over a 10 year period.
The supplies, which are expected to commence from FY20, are expected to generate revenues of Rs 4,000 crores (about $ 620 million) over the contract term. The project will entail investment of Rs 400 crores (about $ 62 million) by AIL. The end-use is among the major growth initiative of the customer and approximately $ 1 billion is being invested for this initiative.
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