Chemicals maker Anupam Rasayan on Thursday said it has signed a Letter of Intent (LoI) worth USD 120 million ( Rs 984 crore) for next six years with a Japanese firm for supply of new age advance intermediate for life science active ingredient.
This product is being manufactured for the first time in India and it is in line with the government's 'make in India' policy, said the company's Managing Director Anand Desai.
"This LoI demonstrates our technical capability to work on niche molecule along with Japanese customers and strengthens our revenue growth visibility in the coming years," he said in a statement.
Desai said sales realisation for this molecule will be one of the highest for the company. This molecule is based on fluorination chemistry which further validates the company's strategy of expansion in fluorination.
The company will manufacture this product in its existing as well as upcoming multipurpose manufacturing facilities.
The company has six manufacturing facilities in Gujarat with four facilities located at Sachin in Surat, while one of them is located at Jhagadia, Bharuch with an aggregate installed capacity of about 27,200 tonnes as on December 31, 2022.