Tata Chemicals plans to achieve financial closure in the next couple of days for acquiring US-based General Chemical Industrial Products.The company acquired General Chemical Industrial Products for $1 billion (about Rs 4,000 crore) early this year.
Tata Chemicals would raise $850 million (about Rs 3,400 crore) in debt to fund the acquisitions, but declined to give details.The acquisition of General Chemical will make Tata Chemicals the second largest maker of soda ash in the world.The company currently produces 875,000 tonnes of soda ash annually and plans to raise the output to 1.2 million tonnes by optimising use of its current capacities in Mithapur, Gujarat, and Kenya.
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