Specialty chemicals company Lanxess is planning to invest Rs 1,250 crore over next five years to increase capacity at its existing facility at Jhagadia in Gujarat and Nagda in Madhya Pradesh besides setting up a new plant.
The focus areas for the investment will be chemical intermediates, high-performance plastics and water treatment products.
According to Hubert Fink, Member of the Board of Management of Lanxess AG, the Indian economy is currently the world’s fastest growing and expected to become the third largest by 2030.
In the last ten years, Lanxess sales in India have more than doubled to Rs 2,608 crore. In the last nine months, its sales were up 14 per cent at 208 million euro against 183 million in the previous year. The Indian arm also exported chemicals worth over Rs 750 crore.
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