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Disruptions could raise drug costs or cause shortages of antibiotics, antidiabetics and cardiovascular drugs, many of which rely on petrochemical-based APIs.

The MoU is an extension of EIL’s first order secured in 2018 and completed in 2024 under which it built a 6,50,000/bpd oil refinery for the same Lagos-headquartered Dangote group.

Under the terms of the long-term agreements, TA’ZIZ will supply Sanmar with over 3,50,000 tonnes per annum of petrochemical feedstocks.

Participating in a luncheon meeting with industrialists in Abu Dhabi, Naidu explained his aim to make Andhra Pradesh a technology destination.

C.O.I.M. S.p.A. will acquire the business for a consideration of at least 8.5 times the adjusted EBITDA of 2.12 million British Pounds, a value determined jointly by both parties.

Experts say higher US tariffs raise costs for Indian chemical exports, likely cutting demand for speciality chemicals and intermediates.