GHCL signed Memorandums of Understanding (MoUs) worth ₹3,450 crore in Gujarat during Vibrant Gujarat Summit 2024

 https://youtu.be/JWoq384FbHk?si=VGT7YnJnpxx6GAzn

GHCL signed Memorandums of Understanding (MoUs) worth ₹3,450 crore in Gujarat during Vibrant Gujarat Summit 2024

  • GHCL Soda Ash business to benefit from the aforesaid announcement in the budget driving the growth for solar energy, housing and infrastructure sectors
  • Netzero by 2070 (Rooftop Solarisation,Non fossil fuel,E-vehicles)
  • Zero Net Debt; Cash surplus Rs. 625 crore
  • 2nd largest manufacturer of Soda Ash in India, with 26% market share
  • ROE: 33%
  • In a filing to the stock exchanges, the company said that the first MoU was signed for an investment worth ₹2,500 crore in the Kutch district of the state. The investment will be used for the second phase expansion of the Greenfield Soda Ash plant, along with establishing a new vacuum salt plant.
  • As per the details disclosed by GHCL, the second MoU was signed for an investment of ₹950 crore in Bhavnagar, which is in the Saurashtra region of Gujarat. The investment will be made towards the mining of bentonite and sand, which are both part of the overburden found during lignite mining
  • The company has stated that bentonite will primarily be used as a raw material for fertilisers, foundries, cosmetics, and pharma industries, among others, and will be marketed to these industries. At the same time, sand is used as a raw material in the construction industry.
  • The investment in these projects will be spread over a period of four years and will provide direct and indirect employment to more than 10,000 people

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