Billionaire Kumar Mangalam Birla is investing $50 million to build a new chemical plant in the heart of the US oil-refining region, as his Aditya Birla Group expands its North American footprint.
The project will feature a state-of-the-art advanced materials site on 35 acres in Beaumont, Texas, an area known for housing some of the country’s largest refineries and petrochemical complexes, according to a statement released on Tuesday. The plant will house research and development facilities and will produce epoxies.
Aditya Birla considers itself the largest Indian investor in the US, with more than $15 billion in assets in the country.