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Deepak Phenolics Limited (DPL), a wholly owned subsidiary of Deepak Nitrite Limited, has approved definitive agreements with Petronet LNG Limited (PLL) for the procurement of 250,000 tonnes per annum of Propylene and 11,000 tonnes per annum of Hydrogen.
The agreements, approved on October 28, 2024, establish a 15-year supply commitment from PLL’s Petrochemical Project in Dahej, Gujarat.
The shares of Deepak Nitrite Limited were trading at ₹2,678.35 down by ₹13.85 or 0.51 per cent on the NSE today at 11.52 pm.
The deal follows the initial binding term sheet between the companies, which was approved by DPL’s board in December 2023. The supply will commence from the date of first delivery from PLL to DPL.
This domestic partnership between two Indian companies does not involve any related party transactions, and there is no reported interest from promoter or promoter groups in the deal. The agreement represents a significant long-term commitment in India’s petrochemical sector.
- Also read: SRF, Deepak Nitrite, Gujarat Fluro, Navin Fluorine, et al: Speciality chemicals at a crossroads
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