DACL Fine Chem to Acquire 50 Acres for New Chemical Plant

DACL Fine Chem Limited, a wholly-owned subsidiary of Diamines & Chemicals Ltd, has signed a binding term sheet with Kakinada SEZ Limited to acquire approximately 50 acres of freehold industrial land in Auro Industrial Park, Kakinada, Andhra Pradesh. The land will be used to set up a new chemical plant. The total consideration for the land is ₹40 crores (₹28 crores for Tranche 1 and ₹12 crores for Tranche 2), subject to final measurement. The term sheet is valid until June 30, 2027, with a definitive agreement to be negotiated separately. This move signifies a significant expansion for the company's manufacturing capabilities.