"GHCL's Shares Jump 2.17% Following ₹3,450 Crore Investments in Gujarat"

The first MOU involves an investment of Rs. 2500 crore in the Kutch distof Gujarat. This funding will facilitate the second-phase expansion of the Greenfield Soda Ash plant and the establishment of a Vacuum Salt plant. The investment, spanning four years, is expected to generate direct and indirect employment for over 10,000 people.

The second MOU outlines a Rs 950 crore investment in Bhavnagar, situated in the Saurashtra region of Gujarat. The funds will be allocated to the mining of Bentonite and Sand, integral components found during lignite mining. Bentonite will be supplied to various industries, serving as a raw material for fertilisers, foundries, cosmetics, and pharmaceuticals, among others. Sand, another byproduct, will be utilized in the construction industry.

The company reported that its Khadsaliya Lignite mines in Bhavnagar recently received a “5-Star rating” from the Ministry of Coal, Government of India, in December 2023, making it the first lignite mine in Gujarat to achieve this distinction.

HBL