Vedanta signs memorandum of understanding with GACL
About the MoU:
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 complementary skills, strengths, and common business interests to achieve synergy.
Accordingly, both companies desire to explore opportunities for cooperation 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.
About Vedanta Ltd
Vedanta Limited is one of the world’s leading natural resources companies with significant operations in Aluminium, Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Power & Glass Substrate and foraying into semiconductors and display glass.
Gujarat Alkalies and Chemicals Limited (GACL) was established in 1973 in Vadodara, Gujarat, to manufacture Caustic Soda and allied products. Promoted by the Government of Gujarat, GACL has emerged as one of the largest manufacturers of caustic soda, employing cutting-edge technology, groundbreaking research and development, and strategic diversification. From an initial capacity of 37,425 TPA caustic soda, the organization has enhanced its capacity to 8,52,400 TPA, with manufacturing facilities spread over four complexes, two in Vadodara and two in Dahej.
In the last trading session, the Vedanta stock closed at Rs 257.20. Today, it opened at Rs 257.45 and closed at Rs 258.05, up by 0.33%. The company’s 52-week high stands at Rs 340.75, while the 52-week low stands at Rs 207.85. The company currently boasts a market capitalization of approximately Rs 95,900 crore.
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