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LANXESS India signs MOU with Gujarat government
16 Jan '09
2 min read
LANXESS India Private Limited has signed a memorandum of understanding (MOU) with the Gujarat state government at the 4th Global Investors' Summit Mega Exhibition 2009, which is being held in Ahmedabad from January 11-17, 2009.
According to the MOU, LANXESS will invest a total of EUR 50 million in the new site in Jhagadia, Gujarat, making it the largest and most modern production site for the company in India. The investment will create about 225 new jobs. The MOU is part of the approval process for the new site, which was originally announced at the start of 2008.
The new site will include an ion exchange resin plant, which will supply products for the generation of ultra-pure water for the semiconductor and pharmaceutical industries and for industrial water treatment.
In addition, LANXESS' rubber chemicals plant will be relocated to Jhagadia from Thane, Maharashtra state. The production activities in Thane will be phased out gradually and will restart in Jhagadia along with the ion exchange resin plant in 2010. The rubber chemicals plant will supply the rapidly growing Indian and export tire market and makes LANXESS the only western company to have such operations in India.
"It is a matter of pride that India has been chosen as the location for this important project, which will serve as a springboard for further investments in India. This represents our commitment to one of the fastest growing and most futuristic areas of industrial chemistry. The aim of this move is to generate profitable growth and further strengthen our leading position within the global market," said Dr. Joerg Strassburger, Managing Director and Country Representative, LANXESS India Private Limited.
“Gujarat in western India is one of the favored destinations for chemical companies in the country due to tremendous support from the government in developing the industry. In addition, the Jhagadia Chemical Park was selected because it has an excellent industrial infrastructure in place,” Strassburger added.
LANXESS India Private Limited, the Indian subsidiary of LANXESS AG is a leading supplier of Performance Polymers, Advanced Intermediates and Performance Chemicals. Operating from its registered office in Thane in Maharashtra, the core business of LANXESS India is the development, manufacture and sale of specialty chemicals for rubber, leather, pharmaceuticals, coloring, surface coating, water treatment and crop protection.
According to the MOU, LANXESS will invest a total of EUR 50 million in the new site in Jhagadia, Gujarat, making it the largest and most modern production site for the company in India. The investment will create about 225 new jobs. The MOU is part of the approval process for the new site, which was originally announced at the start of 2008.
The new site will include an ion exchange resin plant, which will supply products for the generation of ultra-pure water for the semiconductor and pharmaceutical industries and for industrial water treatment.
In addition, LANXESS' rubber chemicals plant will be relocated to Jhagadia from Thane, Maharashtra state. The production activities in Thane will be phased out gradually and will restart in Jhagadia along with the ion exchange resin plant in 2010. The rubber chemicals plant will supply the rapidly growing Indian and export tire market and makes LANXESS the only western company to have such operations in India.
"It is a matter of pride that India has been chosen as the location for this important project, which will serve as a springboard for further investments in India. This represents our commitment to one of the fastest growing and most futuristic areas of industrial chemistry. The aim of this move is to generate profitable growth and further strengthen our leading position within the global market," said Dr. Joerg Strassburger, Managing Director and Country Representative, LANXESS India Private Limited.
“Gujarat in western India is one of the favored destinations for chemical companies in the country due to tremendous support from the government in developing the industry. In addition, the Jhagadia Chemical Park was selected because it has an excellent industrial infrastructure in place,” Strassburger added.
LANXESS India Private Limited, the Indian subsidiary of LANXESS AG is a leading supplier of Performance Polymers, Advanced Intermediates and Performance Chemicals. Operating from its registered office in Thane in Maharashtra, the core business of LANXESS India is the development, manufacture and sale of specialty chemicals for rubber, leather, pharmaceuticals, coloring, surface coating, water treatment and crop protection.
LANXESS India Private Limited
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