Anupam Rasayan inks LoI worth Rs 743 cr with Japanese firm

Chemicals maker Anupam Rasayan India Ltd on Tuesday said it has signed a Letter of Intent worth USD 90 million Rs 743 crore with a Japanese firm to supply two advance intermediates using fluorination chemistry over the next seven years.These molecules will be manufactured in the companys existing as well as soon-to-be commercialised fluorination plants, it said in a statement.

Chemicals maker Anupam Rasayan India Ltd on Tuesday said it has signed a Letter of Intent worth USD 90 million (Rs 743 crore) with a Japanese firm to supply two advance intermediates using fluorination chemistry over the next seven years.

These molecules will be manufactured in the company's existing as well as soon-to-be commercialised fluorination plants, it said in a statement. Speaking about the LoI, Anupam Rasayan Managing Director Anand Desai said: ''We are pleased to announce the signing of a Letter of Intent (LOI) with one of the largest Japanese players in Fluorochemicals''.

Anupam will be the first company in India to manufacture these key molecules within the country, with applications in the pharmaceutical and engineering fluids, he said, adding that the signing of LoI also marks the addition of this new marquee customer.

This landmark LoI not only expands and diversifies the customer base but also solidifies the company's position in the Japanese market as one of the most reliable partners for supplying specialised molecules to global majors, Desai noted. The company has six manufacturing facilities in Gujarat.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)