Thermax Plans ₹1,000 Crore Investment in Gujarat Across Multiple Sectors

Pune-based industrial firm Thermax Ltd has unveiled plans to inject a staggering ₹1,000 crore into various projects spread across multiple locations in Gujarat within the next year. This ambitious investment initiative is poised to bolster the company's footprint in the region significantly.

Ashish Bhandari, the Managing Director and CEO of Thermax Ltd, disclosed, "Over the next year, we will invest an estimated ₹1,000 crore in Gujarat. These investments will be made in our own chemical plants, setting up renewable energy capabilities and build-own-operate customer plants for biomass and related facilities." The company, which currently provides employment to approximately 2,500 individuals in the state, is poised to enhance job opportunities with this expansion.

Thermax Ltd operates four manufacturing facilities in Gujarat, situated in Savli, Jhagadia, Dahej, and Mundra. Bhandari elaborated, "We are setting up a significant ion exchange resin manufacturing plant at Jhagadia. We will be investing an additional ₹45 crore into the ₹250-crore plant, which is under construction at Jhagadia."

The firm's Gujarat-based facilities predominantly focus on exports. "The primary output from our plants in Dahej and Mundra gets largely exported. The company exports large boilers from Mundra. Reasonable amounts of the products from Savli and Jhagadia also get exported. We export resins, water treatment chemicals, construction chemicals, large and small boilers, large petrochemical plants, among others from Gujarat," Bhandari highlighted. While Savli produces both small and large boilers, the Jhagadia plant is predominantly focused on chemicals.

This substantial investment not only underscores Thermax's commitment to Gujarat but also positions the state as a vital hub for the company's operations, manufacturing, and export activities.

HBL