Key Quantitative Figures

  • Investment by Acutaas Advance Material Limited in Indichem Inc.: KRW 30 billion (approximately ₹200 crore)
  • Land area: 16,513.7 square meters across three buildings
  • Ownership structure: 75% held by Acutaas Advance Material Limited, 25% held by J & Materials Co. Ltd.
  • Construction timeline: 11 months from groundbreaking on September 29, 2025 to inauguration on August 28, 2026

Dates of Action

  • Joint venture agreement signed: June 27, 2025
  • Groundbreaking ceremony: September 29, 2025
  • Plant inauguration: August 28, 2026
  • Press release date: August 28, 2026
  • Regulatory filing date: August 28, 2026

Parties Involved

  • Acutaas Chemicals Limited (Indian parent company, BSE: 543349, NSE: ACUTAAS)
  • Acutaas Advance Material Limited (wholly owned subsidiary of Acutaas Chemicals Limited)
  • Indichem Inc. (step-down subsidiary, South Korean company)
  • J & Materials Co. Ltd. (South Korean joint venture partner)
  • The Listing Department, BSE Limited
  • The Listing Department, National Stock Exchange of India Limited

Facility Details

  • Location: Gongju, Chungcheongnam-do, South Korea
  • Headquarters: Dongtan, Gyeonggi-do, South Korea
  • Facility composition: Main production block, combined headquarters/R&D/pilot plant, and warehouse
  • Expansion capacity: Additional land available on-site for future expansion

Operational Model

The plant employs a two-country operational model:

  • Chemical synthesis performed in India
  • Refining, testing, and qualification to semiconductor grade performed in South Korea
  • Strategic positioning near South Korea's principal semiconductor and display manufacturing clusters

Technical Specifications

  • Focus on ultra-high purity chemicals for semiconductor applications requiring parts-per-billion purity levels
  • Initial focus on high-purity chemicals for semiconductor applications
  • Expansion to include specialty chemicals for IT/display industries

Management Commentary

Mr. Naresh Patel, Chairman & Managing Director, Acutaas Chemicals Limited: "We are thrilled to inaugurate the Gongju plant just eleven months after breaking ground, reflecting the exceptional discipline brought by both partners. By combining India's core strengths in complex chemical synthesis with Korea's expertise in ultra-high-purity refining, we have built a synergistic model that neither company could have executed alone. This marks a vital step in scaling our semiconductor materials business into a long-term growth engine for Acutaas."

Mr. Jay Han, Chief Executive Officer, Indichem Inc.: "What began as a shared ambition between two companies is now an operational, state-of-the-art facility. Our approach has been the same from day one: we are not asking our customers to come to India — we are bringing India to Korea. I believe this is a starting point of long journey in this partnership of creating one of the leading semiconductor materials company in Republic of Korea."

Additional Information

  • Company CIN: L24100GJ2007PLC051093
  • Company website: www.acutaas.com
  • Contact: Mr. Rahul Thakur, Senior Manager – Investor Relations (Rahul.thakur@acutaas.com)