Gujarat Chemical Port plans to set new facility in Dahej
A subsidiary of renowned paint sector firm Asian Paints, Gujarat Chemical Port Limited (GCPL) has revealed its plans to set up an ethylene storage and handling facility in Dahej. Asian Paints (Polymers) (APPPL) had entered into agreements for the project.
As per the agreement, APPPL will be providing a security deposit of Rs 460 crore to GCPL which will be refunded over 17–18 years. The amount would be in addition to the cost of setting up the VAM and VAE (vinyl acetate-ethylene emulsion and vinyl acetate monomer) manufacturing facility of Rs 2,100 crore.
Also Read: Rs 2,000 Crore Investment Planned By Asian Paints