Aarti Industries

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Aarti Industries Limited (AIL or the Company) is one of the leading manufacturers of specialty chemicals based in India. AIL primarily manufactures derivatives of benzene and toluene and ranks amongst top 4 manufacturers globally for approximately 75% of its product portfolio. The Company (https://www.aarti-industries.com/) manufactures more than 100 products, with diversified end-use applications (for manufacturing agrochemicals, fertilizers, polymers, pharmaceuticals, paints, pigments, rubber products, etc.). The products are shipped to more than 1,100 domestic and global customers located across India, Europe, North America, Middle East, and China with exports to more than 60 countries. AIL has established fifteen 16 manufacturing facilities across 5 locations in India, located in the states of Gujarat and Maharashtra at Kutch, Dahej, Jhagadia, Vapi, and Tarapur. The Company also operates two R&D facilities including Aarti Research and Technology Centre (ARTC) started in March 2020 in Navi Mumbai, Maharashtra. The proposed IFC investment of up to US$ 130 million of senior loan will be utilized towards capacity expansion and debottlenecking initiatives (“the Project”) in Jhagadia and Dahej, in the state of Gujarat, India, which consists of:Expansion of Nitro toluene capacities at Jhagadia (21°39'13.1N 73°07'34.8E)Expansion of Ethylation capacities at Dahej (21°40'55.3N 72°33'00.1E)Setting up of Chloro-toluene & its derivatives plant at Jhagadia (21°39'13.1N 73°07'34.8E)Setting up of multi-purpose plants (MPP) & pilot plants for customized manufacturing at Jhagadia (21°37'01.7N 73°08'21.0E)Debottlenecking & expansion/modernization of other existing capacities at Dahej and Jhagadia.