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Coromandel International’s board has approved setting up of new phosphoric and sulphuric acid plants at its Kakinada fertiliser unit in Andhra Pradesh, with an investment of Rs 1,029 crore.
The facilities proposed will add 750 tpd phosphoric acid capacity and 1,800 tpd of sulphuric acid within 24 months. The projects, to be funded through internal accruals/loans, will reduce dependence on imports and make Kakinada an integrated facility. The expansion of the backward integration capabilities through the plants is subject to receiving regulatory approvals. The proposal follows 100 percent utilisation of the existing 1,550 tpd phosphoric acid and 4,200 tpd sulphuric acid capacities.
he investment is in line with the agri inputs solution providers long-term objectives to secure key raw materials for its fertiliser production. The move will help the company further improve cost efficiencies, raw material security and contribute to the government’s vision of Atma Nirbhar Bharat. |
