Chennai, Jan 2 : 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.