Aarti Industry’s Export-Only Gujarat Unit to Serve SABIC by Q4 FY20
- 19-Feb-2020 1:00 PM
- Journalist: Peter Schmidt
Aarti Industry’s new manufacturing unit as per its initiated contracts with SABIC and Monsanto, is expected to be commissioned in Q4 of FY20 and ramp-up is expected to get over by FY21. In 2017, Aarti Industries Ltd., a leading Indian manufacturer of Specialty Chemicals and Pharmaceuticals, had signed a supply contract worth INR 100 billion ($1.56 billion) with the U.S. subsidiary of Saudi Basic Industries Corp (SABIC) over a period of 20 years. As per the contract, Aarti Industries will supply specialty chemical intermediates to SABIC Innovative Plastics U.S. LLC by setting up a new manufacturing unit in Gujarat which will be export-only unit. Aarti Industries is India’s leading producer of Benzene-based basic and intermediate chemicals and a leading supplier of dyes, pigments, agro-chemicals, pharmaceuticals and rubber chemicals to consumers across the globe. The company holds 25-40% global market share across various chemical products and with this deal, the group is set to enter a new chemistry range, a first-of its-kind in India.