Kolkata-based Himadri Chemicals, a leading maker and exporter of chemical products, has annunciated that the company through its wholly owned subsidiary named Himadri Global Investment (HGIL) has inked a joint venture pact with a chinese company.

Under the terms of the deal, the company will acquire existing coal tar distillation plant in Xiaoyi, Shanxi. 

According to the sources, HGIL will be the owner of 90% equity interest in the JV company and the balance 10% will be owned by the Chinese conglomerate.

Stock of Himadri Chemicals and Industries settled well at Rs 359, up 8.89 per cent on National Stock Exchange.