Subsidiary to acquire 50-acre land in Kakinada for new chemical plant
DIAMINESQ · price
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Wholly Owned Subsidiary DACL Fine Chem Limited signed a Binding Term Sheet on June 29, 2026 with Kakinada SEZ Limited to buy about 50 acres of freehold industrial land at Auro Industrial Park, Kakinada, Andhra Pradesh. The land will be used to set up a new chemical plant. Total consideration is Rs 40 crores (Rs 28 crores for Tranche 1 and Rs 12 crores for Tranche 2), excluding stamp duty and registration, subject to final measurement. The term sheet is valid till June 30, 2027; a final definitive agreement will be separately negotiated.
Signals a major greenfield expansion for long-term growth. Adds to capex; future plant setup costs and definitive agreement still pending.