The Kakinada Special Economic Zone Limited (KSEZ) has signed a Memorandum of Understanding (MoU) with Gujarat-based DACL Fine Chem, a subsidiary of Diamines and Chemicals Limited, for setting set up a chemicals manufacturing facility on a 50-acre campus with an estimated investment of ₹500 crore in KSEZ.

The project includes the manufacturing of high-value specialty chemicals for both domestic and international markets, offering direct and indirect employment opportunities for the local communities.

KSEZ Limited Managing Director & CEO Ram Reddy Ojili and Amit Mehta, chairman, DACL Fine Chem Limited, signed the pact in Hyderabad on June 29.

In an official release, Mr. Ram Reddy said that the project would position Kakinada as a preferred destination for specialty chemicals and advanced manufacturing industries.

The KSEZ spreads across nearly 6,000 acres along the Kakinada coast. The park is being developed to suit chemical, pharmaceuticals, food processing, engineering, and clean energy sectors.

DACL Fine Chem Limited manufactures specialty chemicals, chemical intermediates, and performance chemicals.