Anupam Rasayan India Ltd, a chemical manufacturer, announced on Thursday that it has signed a Letter of Intent (LoI) worth USD 182 million (Rs 1,500 crore) with a leading Japanese multinational to manufacture and supply three high-value specialty chemicals. This product will be produced in our current manufacturing facilities.

"We are pleased to announce that we have entered into a collaboration with a leading Japanese multinational to add three new molecules to our portfolio." Anand Desai, Managing Director of Anupam Rasayan, stated, "These three molecules will be used as advanced intermediates for highly specialised polymers and liquid crystals."

The company will be India's sole supplier of these molecules.

"This is in line with our strategy of expansion in Fluoropolymer and Electronic segments, manufacturing high value molecules and going up the value chain with support of our customers," Desai said.

Desai went on to say that this letter of intent demonstrates global MNCs' growing confidence in our technical capabilities and sustainable supply chain, and it reaffirms our commitment to Make in India.

The company has six manufacturing facilities in Gujarat, four of which are located in Sachin, Surat, and one in Jhagadia, Bharuch, with an aggregate installed capacity of approximately 27,200 tonne as of December 31, 2022.