Chemplast Sanmar Ltd (CSL) said its Custom Manufactured Chemicals Division (CMCD) has signed a Letter of Intent (LOI) with an undisclosed global agrochemical innovator to manufacture a new pipeline active ingredient (AI).
The LOI covers a period of 5 years. Commercial supplies are expected to start from CY 2025. This new product will be manufactured in the company’s recently commissioned production block, according to a statement.
Last quarter, CSL announced that it was chosen to manufacture an AI. The deal marked the company’s first venture into the manufacture of an AI.
“Today, we are pleased to announce that we have signed an LOI for the supply of the AI. This is the third LOI we have signed over the past 12 months,” said Krishna Kumar Rangachari, Deputy Managing Director, Chemplast Sanmar Ltd.