Aarti Industries Ltd., a Mumbai-based specialty chemicals manufacturer, has signed a manufacturing and supply agreement lasting more than 10 years with a global specialty chemical company, with estimated revenue potential of ₹1,500 crore (about $150 million) over the contract term.

Under the agreement, Aarti Industries will establish, commission and operate a dedicated manufacturing facility in India to produce a specialty chemical for high-performance applications. The facility will use the customer’s proprietary process technology, with capital expenditure of less than $25 million to be financed through a structured financial arrangement, according to the company.

Commercial operations are expected to begin in fiscal 2028–29, subject to applicable approvals. The customer’s name and the chemical to be manufactured were not disclosed.

The arrangement is intended to support the customer’s growing requirements in India through local production. For Aarti Industries, the agreement adds a new global customer and expands its dedicated manufacturing and supply business.

Managing Director and CEO Suyog Kotecha said the agreement combines the customer’s technology with Aarti Industries’ process scale-up, engineering and operating capabilities. He said the long-term arrangement provides revenue visibility and a platform to expand the relationship as the customer’s requirements in India grow.

The announcement follows recent developments in which Aarti Industries commissioned Phase I of its Zone IV project at its Jhagadia site in Gujarat. The phase included facilities for calcium chloride and 2-phenyl ethyl diethyl aniline, as well as part of a multipurpose plant designed to support commercial production across multiple products and chemistries.