Godrej Industries Signs MoU With Gujarat Govt For ₹600 Cr Expansion In Valia

Godrej Industries Signs MoU With Gujarat Govt For ₹600 Cr Expansion In Valia

As part of the MoU, the Company may plan to invest Rs 600 Crore over the next four-years on the significant expansion in Valia with employment of around 250.

FPJ Web DeskUpdated: Friday, January 05, 2024, 03:53 PM IST
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Godrej Industries Signs MoU With Gujarat Govt For ₹600 Crore Expansion In Valia | Image: Godrej (Representative)

Godrej Industries Limited (Chemicals Division) has announced that the Company has signed a Nonbinding Memorandum of Understanding (MoU) with the Government of Gujarat, the company on Thursday announced through an exchange filing.

As part of the MoU, the Company may plan to invest Rs 600 Crore over the next four-years on the significant expansion in Valia with employment of around 250. The signing, held in the presence of CM Bhupendra Patel, solidifies the commitment to Gujarat’s industrial growth and skilled workforce.

The MoU sets the stage for expansion in Valia where Godrej Industries already has a manufacturing facility. Situated in Gujarat's Bharuch district, this facility manufactures diverse oleo chemical products derived from organic materials. These products serve multiple market segments such as personal care, pharmaceuticals, and food industries.

Vishal Sharma, CEO of Godrej Industries (Chemicals) said, “This strategic collaboration underscores our commitment to growth, innovation, and contributing to the economic development of the region. Gujarat has always been a beacon of progress and a business-friendly destination, and we are confident that our investment will not only enhance our operational capabilities but also create significant employment opportunities and foster economic prosperity.”

Godrej Industries Limited shares

The shares of Godrej Industries Limited on Friday at 3:30 pm IST closed at Rs 845, up by 2.65 per cent.

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