Chlor Alkali manufacturer DCM Shriram is likely to invest Rs 12,000 crore for manufacturing chemical and petrochemical prodcuts in Bharuch, Gujarat by 2028.

The MoU was signed in the presence of Chief Minister Bhupendrabhai Patel at a ceremony organised as part of the Vibrant Gujarat Global Summit to be held on January 10-12.

"DCM Shriram signed an MoU with the Government of Gujarat to invest a proposed Rs 12,000 crore in the manufacturing of chemical and petrochemical products in Bharuch by 2028," the company said in a statement.

Currently, the company has significant Chlor Alkali facilities in Bharuch and aims at increasing the existing capacities while adding new products to its Chlor-Alkali portfolio, it added.