Godrej Industries (Chemicals) Inks Memorandum of Understanding with Gujarat Government ahead of Vibrant Gujarat Summit

~ Plans to invest INR 600 Crore in Valia

Bengaluru, January 4th, 2024: Godrej Industries Limited (Chemicals), a leading player in the Indian chemical industry, today, announced that it has signed a Memorandum of Understanding (MoU) with the government of Gujarat. As part of the MoU, the company is planning to invest INR 600 crore over the next four-years on the significant expansion in Valia with employment of around 250. The signing, held in the presence of CM Shri Bhupendra Patel, solidifies their commitment to Gujarat’s industrial growth and skilled workforce.

The MoU paves the way for expansion in Valia where Godrej Industries already has a manufacturing facility. Located in the Bharuch district of Gujarat, the facility produces a wide range of oleo chemical products derived from organic material. These products cater to various market segments including personal care, pharmaceutical and food industries.

Speaking on the occasion, Vishal Sharma, CEO of Godrej Industries (Chemicals) said, “This strategic collaboration underscores our commitment to growth, innovation, and contributing to the economic development of the region. Gujarat has always been a beacon of progress and a business-friendly destination, and we are confident that our investment will not only enhance our operational capabilities but also create significant employment opportunities and foster economic prosperity.”

He further added, “We remain committed to operational excellence, environmental sustainability, and creating value for all stakeholders involved. Thank you to the Gujarat Government for their proactive approach and support, and we are confident that our combined efforts will lead to a successful and mutually beneficial partnership.”

Rakesh Swami, Group President, Corporate Affairs, Godrej Industries Limited and Associate Companies said, “Godrej Industries Limited is one of the early investors in Gujarat and we are very excited to be part of the remarkable growth story of the State. We appreciate the conducive industrial policies, single window clearances and highly skilled workforce in the State which makes it ideal for us to make significant additional investments. We are grateful for the support from the Industries department and look forward to the 10th Vibrant Gujarat Summit”.

The signing of the MoU took place on the heels of the upcoming Vibrant Gujarat Global Summit, scheduled for January 10th, 2024. This prestigious event highlights the state’s vision for investment and economic growth, and Godrej Industries is proud to be a part of this vibrant ecosystem.

Shri Balwant Singh Rajput, Cabinet Minister of Industries, Civil Aviation, Rural Development, Labour and Employment, Government of Gujarat, said “ Godrej Group is an important investor in Gujarat and we appreciate their intention for additional investments into the State towards making a global oleochemical manufacturing hub in Valia. We are committed to support this investment which is critical for sustainability and placing Gujarat ahead of the curve for zero-effect and Green India aligned with the vision of Honourable Prime Minister Shri Narendra Modi.

GIL Chemicals’ commitment to expanding its operations in Gujarat signifies the company’s long-term vision for growth and its strategic alignment with the state’s development goals. With its focus on innovation, sustainability, and community engagement, GIL Chemicals is poised to play a key role in Gujarat’s industrial landscape in the years to come.

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