NEW DELHI: Gujarat Alkalies and Chemicals Ltd (GACL) on Tuesday said it has signed an initial pact with Vedanta Aluminium for exploring various business opportunities in the areas of caustic-chlorine and other allied businesses.
The Memorandum of Understanding (MoU) envisages to recognize the potential of adding value to the business of both GACL and Vedanta Aluminium by adopting a collaborative approach in common business interests to achieve synergy, GACL said in a regulatory filing.
Vedanta Aluminium is a business of Vedanta Ltd.
Accordingly, both companies desire to explore the opportunities for cooperation in greater detail so that the resources could be pooled together in a mutually beneficial manner, it said.
"With this MoU, both companies have, in principle, agreed to jointly explore the business opportunities either in the form of joint venture project or through contractual arrangements of mutual interest," it added.
Gujarat-based GACL has a production capacity of 8,52,400 tonnes per annum with manufacturing facilities spread over four complexes, two each in Vadodara and Dahej.