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The first MOU signed was for an investment of Rs 2,500 crore in the Kutch district of Gujarat and will be used for the second phase expansion of the Greenfield Soda Ash plant and setting up a Vacuum salt plant. The investment in these projects will be spread over a period of four years and will provide direct and indirect employment to more than 10,000 people.
The second MOU was signed for Rs 950 crore investment in Bhavnagar, in the Saurashtra region of Gujarat towards the mining of Bentonite and Sand. Bentonite and Sand are a part of the over burden found during lignite mining
R.S. Jalan, managing director, GHCL said, “The state of Gujarat holds aspecial place in our hearts and we are proud to support its vison of progress and prosperity. Our investments in the state will continue to make way for greater employment and growth and be a part of the vision of creating an “Atmanirbhar Bharat”. Keeping in line with our mission to consistently deliver value for our stakeholders, we have ambitious growth plans to maintain this trajectory through sustainable expansions. Once commissioned, these projects will accelerate our growth momentum and position us among the top-tier industry leaders.”
GHCL is engaged in the business of Manufacturing & trading of Inorganic Chemicals (mainly manufacture and sale of Soda Ash).
The company’s consolidated net profit declined 51.2% to Rs 142.84 crore on 41.7% fall in net sales to Rs 805.42 crore in Q2 FY24 over Q2 FY23.
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