Manali Petrochemical has executed a Memorandum of Understanding (MoU) on December 18, 2024 with Fermenta Biotech (FBL) to acquire lease and related rights of FBL, through assignment, on the leased premises situated at Saykha Industrial Estate, Gujarat admeasuring at an extant of 40,000 sqm for a consideration of Rs 18.70 crore, on the terms and conditions specified in the said MOU, subject to execution of further definitive agreements and approval of Gujarat Industrial Development Corporation.
Manali Petrochemical (MPL) is a leading petrochemical manufacturer based in Chennai, India. It markets propylene glycol and polyols.
