Approximately 50 million euros will be invested into the new site, which will create 225 new jobs.
Lanxess signed a Memorandum of Understanding (MoU) with the Gujarat government during an investment exhibition held in the state during mid January, reports the IndiaPRWire news agency. The MoU is part of the approval process for the new site, which was originally announced at the start of 2008. Production at the Thane facility will be phased out gradually and will restart in Jhagadia, along with an ion exchange resin plant, in 2010. The rubber chemicals plant will supply the rapidly growing Indian and export tyre market, making Lanxess the only western company to possess such an operation in India. The ion exchange resin plant will supply products for the generation of ultra-pure water for the semiconductor and pharmaceutical industries and for industrial water treatment.
“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,” said Dr. JÖrg Strassburger, Lanxess India managing director and country representative. “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.
“Gujarat in western India is one of the favoured 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. (Tyres & Accessories/Staffordshire, U.K.)