Hikal Ltd inks MoU with Gujarat govt for Rs. 500 Crore investment in Panoli plant
January 09, 2024
Bharuch: Hikal Ltd and the Government of Gujarat have entered into a Memorandum of Understanding (MoU) as part of the investment initiative associated with the Vibrant Gujarat Global Summit 2024.
As per the terms of the MoU, Hikal will inject Rs 500 crores into the existing fine chemical plant located at Panoli, Gujarat. The Panoli plant is distinctive as the only Hikal site that encompasses all three business verticals—Pharma, Crop Protection, and Animal Health.
In reciprocation, the Government of Gujarat commits to assisting Hikal in obtaining the necessary permissions, registrations, approvals, and clearances from the relevant state departments. DeshGujarat
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