I do not have may details yet but Dow Chemical's (DOW) European unit has signed a joint venture agreement with India's Gujarat Alkalies and Chemicals Ltd to manufacture chlorine-based products at the Gujarat's Dahej project site in the western state of Gujarat, The Economic Times reported.
A government source refused to divulge any information on the investment and size of the proposed plant, The Economic Times said.
GACL's managing director Guruprasad Mohapatra announced "Both Dow and GACL have a lot of synergies. We will benefit from Dow's proven technologies and presence in the globe"
The companies are working on the details of the 50-50 joint venture, which is expected to sell products in India and overseas. Dow will provide the technology for the joint venture.
Again, perfectly in keeping with CEO Andrew Liveris's "asset light" strategy. He continues to delivery on his stated goals for shareholders as it seems a new joint venture is being announced at least once a month as he move Dow from it's cyclical commodities business into the specialty chemical area that will giver shareholder steadier returns and diversify earnings.