Kakinada SEZ has welcomed its newest investor with the proposed establishment of a Rs 500 crore specialty chemicals manufacturing facility within the SEZ.

DACL Fine Chem Limited signed a Memorandum of Understanding (MoU) with Kakinada SEZ Limited to establish a specialty chemicals manufacturing facility on 50 acres in Kakinada SEZ.

The MoU was signed by Mr. Ram Reddy Ojili, Managing Director & CEO, Kakinada SEZ Limited, and Mr. Amit Mehta, Chairman, DACL Fine Chem Limited, in the presence of senior officials from both organizations.

The project is expected to manufacture high-value specialty chemical products for domestic and international markets while creating significant direct and indirect employment opportunities in the region.