Vedanta, Gujarat Alkalies to jointly explore opportunities in caustic-chlorine businesses

Vedanta, Gujarat Alkalies to jointly explore opportunities in caustic-chlorine businessesJanuary 2, 2024Chennai, Jan 2 (IANS) Vedanta Ltd and Gujarat Alkalies and Chemicals Ltd (GACL) have inked a Memorandum of Understanding (MoU) to explore business opportunities in caustic-chlorine and allied businesses.In a regulatory filing, the two companies said they are desirous of exploring a joint venture project or through contractual arrangements of mutual interest.“The MoU aims to recognise the potential of adding value to the businesses of both Vedanta Aluminium and GACL by adopting a collaborative approach based on their complimentary skills, strengths, and common business interests to achieve synergy,” Vedanta said in a statement.Accordingly, both companies desire to explore opportunities for cooperation in greater detail so that resources can be pooled together in a mutually beneficial manner. This is also in line with Vedanta Aluminium’s efforts towards vertical integration.–IANSvj/arm