Speciality chemicals manufacturer Croda India on Wednesday said it will set up a new production unit at Dahej in Gujarat with an investment of Rs 500 crore in the first phase. The company, a subsidiary of UK-based Croda International Plc, said the new facility will increase capacity to serve rising regional consumption of its consumer care products and growing opportunities in pharma and crop care.
It will also provide advanced and sustainable solutions to its customers, further increasing its manufacturing presence to meet fast-growing demand in Asia, Croda India said in a statement. The company said it held the groundbreaking ground ceremony on Wednesday for its "greenfield manufacturing plant at Dahej, Gujarat with an investment of Rs 500 crore in the first phase".
"This investment at Dahej is a demonstration of our commitment to the Indian market and a recognition of its immense potential for growth," Croda India Managing Director Murali Duvvuri said.The group has been present in India for over two decades and has a manufacturing and innovation centre in Navi Mumbai and alongside offices in Ahmedabad. Established in 1925, Croda International is an FTSE100 company that operates in 39 countries and is focused on providing solutions in high-value niches in life science and consumer markets.