The new plant will be the company’s third Indian facility for active ingredients in agrochemicals.
Tokyo-based agrochemical manufacturer, Sumitomo Chemical plans to develop its new agrochemical plant in the western part of Gujarat. The Japanese company will obtain about 50 acres of land in the western state of Gujarat and aim to complete construction around 2027. The initial investment is expected to be over 5 billion yen ($35 million). The total amount will exceed several tens of billions of yen in the mid- to long-term as the plant gradually expands.
The new plant will be the company’s third Indian facility for active ingredients in agrochemicals. If the entire site is utilised, the company’s annual production capacity is expected to increase 80 per cent in India.
The company’s agrochemical business in India generated sales of about $430 million in the fiscal year ended March 2023. The Company aims to achieve a sales volume of $500 million by fiscal 2025.
