Fairfax India is going to acquire 30 percent stake in Chennai based Sanmar Chemicals Group for an investment of USD 300 million (about Rs 2,000 crore).

Fairfax will be making the investment through equity and fixed income securities.

Sanmar Chemicals is one of the leading PVC manufacturers in India and possess an installed annual capacity of around 3 lakh tonnes.

The company has said in a statement that “Fairfax India Holdings Corporation announces, through its wholly-owned subsidiaries, it has agreed to invest USD 300 million into the Sanmar Chemicals Group.”

“As a result of this investment, Fairfax India will acquire a 30 per cent equity ownership in Sanmar and also generate a fixed return on its investment.”

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