Clariant Chemicals sells Thane plot to Lodha Group for Rs 1154 cr

Swiss specialty chemicals major, Clariant Chemicals India Ltd, has sold its land located in Thane (Maharashtra) to realty developer Lodha Group for Rs 1154 crore. Clariant has informed BSE that the company has entered into an agreement to sell its land located in Kolshet, Thane aggregating to about 87 acres to Ishwer Realty and Technologies Private Limited (a subsidiary of Lodha Developers Private Limited) for an aggregate consideration of Rs 1154.25 crores.
 
In July last year, Clariant Chemicals initiated the process to sell the land parcel following approval of the company's board. The company's has already relocated of its masterbatches plant from Kolshet to Renaissance Industrial & Warehousing Complex at Bhiwandi in Thane.