GACL signs Memorandum of Understanding with Vedanta Ltd (Aluminium Business)
VADODARA, India, Jan. 3, 2024 /PRNewswire/ — Gujarat Alkalies and Chemicals Ltd (GACL), has signed Memorandum of Understanding (MoU) with Vedanta Ltd (Aluminium Business) for exploring various business opportunities in the areas of Caustic-Chlorine and other allied businesses.
The MoU envisages to recognize the potential of adding value to the business of both GACL and Vedanta Aluminium by adopting a collaborative approach based on their complimentary skills, strengths, and common business interests to achieve synergy. Accordingly, both the Companies desire to explore the opportunities for co-operation in greater detail so that the resources could be pooled together in a mutually beneficial manner.
With this MoU, both Companies have, in-principle, agreed to jointly explore the business opportunities either in the form of joint venture project or through contractual arrangements of mutual interest.
Gujarat Alkalies and Chemicals Limited (GACL) was established in 1973 in Vadodara, Gujarat, to manufacture Caustic Soda and allied products. Promoted by the Government of Gujarat, GACL has emerged as one of the largest manufacturers of caustic soda, employing cutting-edge technology, groundbreaking research and development, and strategic diversification. From an initial capacity of 37,425 TPA caustic soda, the organization has enhanced its capacity to 8,52,400 TPA, with manufacturing facilities spread over four complexes, two in Vadodara and two in Dahej. GACL now offers more than 35 products used as raw materials in various industries. By providing quality raw materials used in numerous applications, GACL contributes to the growth of the chemical industry in the country.
Vedanta Limited (“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s leading natural resources companies spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power & Glass Substrate and foraying into semiconductors and display glass. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector, is committed to reducing carbon emissions to net zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate this transition.
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