The renowned chemical manufacturer, Balaji Amines Ltd, in a recent move has diversified into the hospitality sector with the launch of a luxury hotel in Solapur, Maharashtra and is all set to invest over Rs. 25cr to strengthen its presence in the industry. The company has invested Rs 100cr to build the five-star hotel, Balaji Sarovar Premier, which is spread over three acres with 129 rooms and will be managed by Sarovar Group for 12 years. Apart from getting foreign and Indian pilgrims visiting nearby religious places and sites such as Shirdi, Pandharpur, Siddheshwar Temple and Shri Dahigaun Teerth, Balaji Sarovar intends to attract exhibitions and corporate events with four banquet halls. On the chemical manufacturing front, Balaji Amines will commission a new plant in Solapur to produce 30,000 tons of dimethyl amine a year and has targeted annual revenue of Rs 100-150cr from the product.
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