Billionaire Kumar Mangalam Birla is committing $50 million to construct a new chemical plant in the core of the US oil-refining area, as his Aditya Birla Group broadens its presence in North America.
According to a statement released on Tuesday, the project will include a “state-of-the-art advanced materials site” spanning 35 acres in Beaumont, Texas, an area known for hosting some of the nation’s largest refineries and petrochemical complexes.
The plant will feature research and development facilities and will manufacture epoxies, the statement said. Aditya Birla positions itself as the largest Indian investor in the US, with assets exceeding $15 billion in the country.