Kiri Dyes forms JV with Zhejiang Longsheng
India’s Kiri Dyes and Chemicals Ltd has formed a joint venture partnership with China’s Zhejiang Longsheng Group Co Ltd to manufacture reactive dyes in Gujarat, India. The dyes will be used in the production of cotton textiles, leather, and paint and printing inks.
With an initial investment of $10 million, $6 million of which will be provided by the Chinese chemicals producer, the project is expected to be operational by the end of 2008 and will begin with production capacity of 20,000 tonnes per year.
If successful, capacity will be increased to 50,000 tonnes a year and could also be expanded to include the manufacture of basic chemicals.
Speaking at a recent seminar, ambassador of China to India, H.E. Sun Yuxi, stated that trade between India and China is expected to reach $30 billion by 2008 and $50 billion by 2010.
