"Thermax's Plans to Invest ₹1,000 Crore in Gujarat in the Coming Year"

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Thermax’s Plans to Invest ₹1,000 Crore in Gujarat in the Coming Year

| Updated: February 17, 2024 20:06

"Thermax's Plans to Invest ₹1,000 Crore in Gujarat in the Coming Year"

Pune-based engineering giant Thermax is set to inject a massive ₹1,000 crore into Gujarat over the next year, marking a significant expansion in the state. This ambitious plan, announced by MD and CEO Ashish Bhandari, aims to bolster renewable energy capabilities, build biomass facilities, and expand the company’s chemical production.

“These investments will be made in our own chemical plants, setting up customer plants on a build-own-operate basis for renewable energy and biomass, and related facilities,” Bhandari explained. This move not only strengthens Thermax’s presence in Gujarat but also creates further employment opportunities, as the company already employs around 2,500 people in the state.

Gujarat already plays a key role in Thermax’s operations, housing four of its manufacturing facilities in Savli, Jhagadia, Dahej, and Mundra. “We are also setting up a large ion exchange resin manufacturing plant at Jhagadia,” Bhandari revealed. This ₹45 crore addition to the Jhagadia facility exemplifies Thermax’s commitment to diversifying its production portfolio.

But Gujarat isn’t just a manufacturing hub for Thermax; it’s also a key export gateway. “The primary output from our plants in Dahej and Mundra gets largely exported,” Bhandari said. “We export large boilers from Mundra, and a reasonable amount of the products from Savli and Jhagadia also get exported. Resins, water treatment chemicals, construction chemicals, large and small boilers, large petrochemical plants, etc., are exported from Gujarat.” This export focus positions Thermax as a global player with strong roots in India.

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