GHCL Signs MOUs worth Rs 3450 Cr for Investments in Gujarat

GHCL Limited, India's leading Chemical Company, signed two MOUs, at the Vibrant Gujarat Summit, for investing Rs 3450 Crores in Gujarat. The MOUs were signed in the presence of the Honourable Chief Minister Shri. Bhupendra Patel along with his Senior Ministers and GHCL representatives.

The first MOU signed was for an investment of Rs 2500 Crores 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. Bentonite will be marketed to various industries to be mainly used as a raw material for fertilizers, foundries, cosmetics and pharma industries to name a few. Sand is utilized as a raw material in construction industries.

GHCL's Khadsaliya Lignite mines, Bhavnagar received a "5-Star rating" from the Ministry of Coal, Government of India, in December 2023. It is the first lignite mine in Gujarat to receive this rating.

Commenting on this, Mr. R S Jalan, Managing Director, GHCL said, "The state of Gujarat holds a special 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 "Atmnirbhar 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."

Shares of GHCL Limited was last trading in BSE at Rs. 607.95 as compared to the previous close of Rs. 595.70. The total number of shares traded during the day was 32039 in over 1517 trades.

The stock hit an intraday high of Rs. 628.00 and intraday low of 590.65. The net turnover during the day was Rs. 19582872.00.

Source : Equity Bulls

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GHCL INE539A01019 MOUs VibrantGujaratSummit