India's Aarti Industries signs 100 bln-rupee contract with SABIC's U.S. unit

Aarti Industries

29/12/2017 07:06

Dec 29 (Reuters) - Speciality chemicals and pharmaceuticals 
manufacturer Aarti Industries Ltd  ARTI.NS  signed a supply 
contract with a U.S. affiliate of Saudi Basic Industries Corp 
(SABIC)  2010.SE  worth  100 billion rupees ($1.56 billion). 
    Aarti Industries will supply a high value speciality 
chemical intermediate to SABIC Innovative Plastics US LLC over a 
period of 20 years. (http://bit.ly/2C72hFz) 
    Aarti will invest around $35 million to $40 million to set 
up a manufacturing facility in Gujarat which will be used as an 
export-only unit. 
    Shares of the Mumbai-based company were up 5.7 percent, as 
of 0651 GMT, after rising as much as 8.1 percent. 
 
($1 = 63.9325 Indian rupees) 
 
 (Reporting By Arnab Paul in Bengaluru; Editing by Amrutha 
Gayathri) 
 ((arnab.paul@thomsonreuters.com; +91 8067491310; Reuters 
Messaging: arnab.paul.thomsonreuters.com@reuters.net)) 
 
Keywords: AARTI INDS DEAL/SABIC