On Wednesday, Manali Petrochemicals Limited (MPL) announced that its Board has given the go-ahead for an additional $35 million investment in its wholly-owned subsidiary AMCHEM Speciality Chemicals Private Limited in Singapore for prospective international acquisitions.
The Chennai-based petrochemical firm stated in a regulatory filing that the investment would be made in one or more tranches and that more information would be provided as soon as possible.
The investment would be in one or more tranches and further details in this regard would be furnished in due course. The Board at the meeting held on November 2, 2022 has approved the same.
Manali Petrochemical (MPL) is a leading petrochemical manufacturer based in Chennai, India. It markets propylene glycol and polyols.