Chemplast unit signs LoI to make advanced intermediate for active ingredient
The Hindu
The LOI is for a period of five years
Chemplast Sanmar Ltd.’s Custom Manufactured Chemicals Division (CMCD) recently entered signed a letter of intent (LoI) with a global agrochemical innovator company to manufacture an advanced intermediate for an established generic Active Ingredient.
The LOI is for a period of five years. The commercial supplies are expected to start from the four quarter of FY24. The new product would be manufactured in the company’s new multi-purpose production block, which is on track for commissioning in second quarter, the company said in a statement.
“This new LoI reaffirms the strength of our product pipeline, demonstrates our technical know-how, and our ability to combine a world-class research and development capability with a broad range of chemical technologies at a production scale,” said deputy managing director Krishna Kumar Rangachari.
The CMCD manufactures advanced intermediates for agrochemical, pharmaceutical, and fine chemical innovators.
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