Himadri Chem enters JV contract with chinese Co

Coimbatore: Himadri Chemicals and Industries, through its 100 wholly owned subsidiary, Himadri Global Investment (HGIL), has entered into a joint venture contract with a Chinese company to takeover existing coal tar distillation plant in Xiaoyi, Shanxi.

HGIL will hold 90 per cent equity interest and the balance 10 per cent will held by the Chinese company in the venture. This agreement will be subject to the approval of the Chinese Government with modification of terms and conditions as may be proposed.