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Global private equity funds KKR & Co and Blackstone Group and two local companies, Godrej Agrovet and American private equity fund TPG Capitalbacked United Phosphorus Ltd have put in independent bids to acquire a controlling 57.7% stake in agrochemicals maker Gharda Chemicals. https://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/pe-funds-godrej-upl-in-race-for-57-7-in-gharda-chemicals/articleshow/67413296.cms

India imported 42.03 lakh tonne of urea for over USD 1 billion till November in the current fiscal. The government is importing about 20 lakh tonne of urea from Oman India Fertiliser Company (OMIFCO) under a long-term urea offtake agreement. The import of urea from OMIFCO is done through co-operatives IFFCO and Kribhco. According to […]

Avantha Group is set to sell its agro chemicals unit, Solaris ChemTech, to Agrocel Industries for about Rs 800 crore as the Gautam Thapar-controlled firm is selling its non-core businesses to repay some outstanding debt. Agrocel, part of the Shroff Group of Companies which includes Excel Industries, is expected to sign definitive agreement in the […]

Specialty chemicals maker Lanxess AG plans to invest up to Rs 1,250 crore in India over the next five years to strengthen its asset base in the country, top executives of the company said. The Germany-headquartered company, which set up base in India in 2004, will invest on expanding production capacities for chemical intermediates, high-performance […]

Alkyl Amines Chemicals is expanding amine derivatives capacity from 30,000 tpa to 34,400 tpa at Kurkhumbh Industrial Area, Daund in Pune district of Maharashtra. The expansion will require around 68.32 acre of land. The company has been granted environmental clearance (EC) and commenced civil work in 2016.At present, around 80 percent of the project work […]

The country’s chemical industry is expected to grow at around 9 per cent per annum to reach USD 304 billion by FY25, from USD 163 billion in FY18, a report said. The growth is likely to be driven by rising demand in end-use segments for specialty chemicals and petrochemicals intermediates, said the India Chem Strategyreport […]

Hindustan Urvarak and Rasayan Limited (HURL) has signed a Rupee Term Loan agreement for the Gorakhpur fertilizer plant. The agreement is for a loan of ₹ 5314.33 crore with a consortium of Banks led by SBI as the lead banker and Punjab National Bank, Allahabad Bank, Union Bank of India, Indian Bank, Bank of India […]

Mangalore Chemicals and Fertilizers (MCFL) has received green clearance for Rs.1,547-crore expansion-cum-modernisation of its fertiliser plant in Karnataka. The eco clearance is subject to compliance with certain conditions. “Environment clearance has been given by the nodal Ministry of Environment to MCFL’s proposed project,”. MCFL complex is spread in about 192 acres. The proposed expansion-cum-modernisation is […]

Work to commence on Wallams India ethanol unit Wallams India Agro Product and Power is all set to commence work by November 2018 on its new ethanol unit to come up at Islampur in Sangli district of Maharashtra. Project execution was delayed due to delay in receipt of environmental clearance (EC). Wallams India has now […]

To invest Rs.1,000 crore in expanding caustic soda and new chlorine products. Grasim Industries, an Aditya Birla group company, expects to generate additional revenues of about Rs.1,200 crore per annum with its plan to invest Rs.1,000 crore in expanding caustic soda and new chlorine value-added products. Sushil Agarwal, Director and Group CFO, said the brownfield […]