Deepak Phenolics Secures 15-Year Supply Agreement with Petronet LNG.

Deepak Phenolics Limited (DPL), a wholly owned subsidiary of Deepak Nitrite Limited, has finalized agreements with Petronet LNG Limited (PLL) for the procurement of 250,000 tonnes per annum of Propylene and 11,000 tonnes per annum of Hydrogen. The agreements, approved on October 28, 2024, establish a 15-year supply commitment from PLL’s Petrochemical Project located in Dahej, Gujarat.

This deal follows an initial binding term sheet between the two companies, which received approval from DPL’s board in December 2023. Supply is set to commence upon the first delivery from PLL to DPL.

This domestic partnership signifies a substantial long-term commitment within India's petrochemical sector and does not involve any related party transactions. Furthermore, there is no reported interest from the promoter or promoter groups in this agreement.

HBL