Textiles & chemicals firm GHCL Ltd, is in talks to buy soda ash makers in the US & China, moving closer to its aim of having a tenth of world capacity in 2 years, its chairman said in a recent statement. The company hopes to close the US acquisition by late 2006 & take a stake in a Chinese firm by 2007, Chairman Sanjay Dalmia told Reuters in an interview. GHCL, which has a capacity of just under 1m/tpa spread across India & Romania, is targeting a 5-fold increase in the next 2 years with expansion in India & acquisitions in the US & China. "Soda ash prices are going up worldwide & no new capacity is coming up," Dalmia said. Global soda ash capacity now stands at around 50m/tonnes. GHCL is currently in price negotiations with 3 US firms to acquire a million tonnes there, he said. GHCL has identified 4-5 firms in China to add at least 1m/tpa capacity.
