The Business Bytes
TBB BUREAU
NEW DELHI, JAN 02, 2024
Anil Agarwal-led 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.
Vedanta Aluminium, India’s largest producer of aluminium, is a leader in value-added aluminium products that find critical applications in core industries.
Promoted by the Gujarat Government, GACL has emerged as one of the largest manufacturers of caustic soda, employing cutting-edge technology, groundbreaking research and development, and strategic diversification.
