New Delhi, 2nd January, 2024: Vedanta Ltd (Aluminium Business) has signed a Memorandum of Understanding (MoU) with Gujarat Alkalies and Chemicals Ltd (GACL), for exploring various business opportunities in the areas of Caustic-Chlorine and other allied businesses.
The MoU aims to recognize the potential of adding value to the businesses of both Vedanta Aluminium and GACL, by adopting a collaborative approach based on their complimentary skills, strengths, and common business interests to achieve synergy. Accordingly, both companies desire to explore opportunities for co-operation in greater detail so that resources can be pooled together in a mutually beneficial manner. This is also in line with Vedanta Aluminium’s efforts towards vertical integration.
With this MoU, both companies have, in-principle, agreed to jointly explore business opportunities either in the form of a joint venture project or through contractual arrangements of mutual interest.