Dow India has signed a memorandum of understanding with the Government of Maharashtra. Dow will invest Rs 400 crore
Dow India, a unit of Dow Chemicals Co., has signed a memorandum of understanding (MoU) with the Government of Maharashtra to set up a global R&D centre at Chakan, Pune. Dow will invest Rs 400 crore ($100 million) in the initial stage. The R & D centre is expected to be operational by 2008 and will employ 500 researchers by 2010. Initial project related activities are underway on the 100-acre land allotted to the company by MIDC and more than 125 researchers are already employed.
The MoU was signed by V K Jairath, principal secretary (Industries), government of Maharashtra and Vipul Shah, CEO, Dow Chemical International Pvt. Ltd in the presence of chief minister of Maharashtra Vilasrao Deshmukh, Johnny Joseph, chief secretary, government of Maharashtra, Michael Gambrell, executive vice president, the Dow Chemical Company, Dr Deepak Parikh, technical director of Dow India's global R&D centre and other senior officials of the state Government.
The Dow Chemical Company, through its subsidiaries, engages in the manufacture and sale of chemicals, plastic materials, agricultural, and other specialized products and services in United States and internationally. It operates in six segments: Performance Plastics, Performance Chemicals, Agricultural Sciences, Basic Plastics, Basic Chemicals, and Hydrocarbons and Energy. The Performance Chemicals segment offers designed polymers, latex and acrylic monomers, and specialty chemicals.
The Basic Chemicals segment provides chemicals, such as acids, alcohols, caustic soda, chlorine, chloroform, and other chemicals; and ethylene oxide/ethylene glycol chemicals.