- Plant to come up at an investment of INR 400-cr
- MECS and TKIS onboarded as technology partners
Hyderabad, November 16, 2021: Coromandel International Limited (BSE:506395, NSE: COROMANDEL), the country’s second largest Phosphatic fertilizer player and part of Murugappa Group, announced the project initiation for setting up a new 1650 Metric Tonnes per day design capacity sulphuric acid plant at its fertiliser complex in Visakhapatnam at a cost of INR 400-cr. The announcement was made by Mr. Arun Alagappan, Executive Vice Chairman, Coromandel International Limited. The company has also signed technology partnership agreements with MECS (Monsanto Enviro-Chem Systems) and TKIS (ThyssenKrupp Industrial Solutions).
Commenting on the setup of new sulphuric acid plant, Mr. Arun Alagappan said, “India is a net importer of sulphuric acid, and the 3rd largest importer globally, accounting for close to 20 Lakh Metric Tonnes of imports. In line with the Atmanirbhar Bharat vision of our honourable Prime Minister for import substitution and promotion of local manufacturing, Coromandel has announced the setting up of a new 1650 TPD sulphuric acid plant at Visakhapatnam. Considering the essential nature of fertilisers, this investment will improve the self-sufficiency and availability of phosphatic fertiliser in the country. I would like to thank the leadership team of MECS and TKIS for being with us here today for the event. This project is an important one for all of us involved and will play an important role in reducing the sulphuric acid imports into our country.”
From a humble beginning of manufacturing its first fertilizer in 1966, Coromandel International is today the largest private phosphatic fertilizer manufacturer and marketer in India and has been a trusted partner for farmers. Coromandel is amongst India’s leading Agri solutions provider, offering diverse products and services across the farming value chain. Coromandel offers Fertiliser, Crop Protection, Bio pesticide, Specialty Nutrient and Organic solutions to farmers and also operates India’s largest Agri Retail chain ‘Mana Gromor’, reaching directly to more than 3 million farmers annually.
The new sulphuric acid plant for which the investment has been announced will increase the sulphuric acid production capacity by a further 5 Lakh Metric Tonnes per annum from the current level of 6 Lakh Metric Tonnes per annum, thereby resulting in a combined capacity of 11 lakh Metric Tonnes. The investment is in line with Coromandel’s long term objectives to secure key raw materials for its fertiliser production. The 1650 TPD sulphuric acid plant project will be setup within Coromandel’s existing Visakhapatnam plant premises. The Visakhapatnam manufacturing unit of Coromandel has a production capacity of 1.3 million Tonnes per annum complex fertilisers and a captive phosphoric acid production capacity of close to 4 Lakh Tonnes per annum. The new Sulphuric acid plant at Vizag will reduce the import dependence considerably and ensure sustainable production of Phosphoric acid, one of the key raw materials for phosphatic fertiliser manufacturing.
The new state of the art sulphuric acid plant is being built on par with globally best technology standards to control emissions. The steam generated from the process shall also be used for captive power generation.
Speaking on the event, Mr. Brian Blair, Global Licensing Manager, MECS USA said, “We have worked in close partnership with Coromandel International Limited to be able to guarantee the precise performance and emissions control needed for the project to meet stringent environmental standards and production objectives. We are excited to be part of a project that provides Coromandel a state of the art sulphuric acid plant with carbon free power generation and to be able to support it with our many decades of expertise in sulphuric acid plant technology.”
Speaking on the occasion, Mr. Rajesh Kamath, CEO & MD TKIS India said, “Coromandel International remains one of our most esteemed customer in the Phosphatic Fertiliser space. Our relationship with them dates back to the nineties when we set up a ammonia tank terminal in Ennore. This was followed by many Di-Ammonium Phosphate/NPK Fertiliser plants, cryogenic ammonia storages and Phosphoric acid plant. The sulphuric acid project is one more opportunity to take our excellent business relationship forward.”
About Coromandel
Coromandel International Limited is amongst India’s pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain. It operates in two major segments: Nutrient and other allied businesses and Crop Protection. These include Fertiliser, Crop Protection, Bio pesticides, Specialty Nutrients and Organic compost businesses. The Company is 2nd largest manufacturer and marketer of Phosphatic fertiliser in India. The Company’s Crop Protection products are marketed in India as well as in international geographies, offering wide range of technical and formulation products. The Specialty Nutrients business of the Company focuses on water soluble fertiliser and secondary & micronutrients segments. The Company is leading marketer of Organic fertiliser in India and has recently added bio pesticide solutions to its portfolio. It also operates a network of around 750 rural retail outlets across Andhra Pradesh, Telangana, Karnataka and Maharashtra. Through these Retail outlets, the Company offers farming services including crop advisory, soil testing and farm mechanization to around 3 million farmers. The Company has a strong R&D and Regulatory setup, supporting the businesses in process development and new product introduction. The Company has 16 manufacturing facilities, producing wide range of Nutrient and Crop Protection products, which are marketed through an extensive network of dealers and its own retail centers. The Company clocked a turnover of Rs. 14,163 Crores during FY2021. Its efforts towards environment have been well recognized by international organizations like UNDP and has also been voted as one of the ten greenest companies in India by TERI. Coromandel is a part of the INR 417 Billion (41,713 Crores) Murugappa Group.
About Murugappa Group
Founded in 1900, the INR 417 Billion (41,713 Crores) Murugappa Group is one of India’s leading business conglomerates. The Group has 29 businesses including ten listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., CG Power and Industrial Solutions Ltd., Cholamandalam Financial Holdings Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd. and Wendt (India) Ltd.
The Group holds leadership position in several product lines including Abrasives, Technical Ceramics, Electro Minerals, Auto Components & Systems, Bicycles, Fertilisers, Sugar, Tea and Spirulina (Nutraceuticals). The Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Yanmar & Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Montra, Mach City, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 53,000 employees.
This news was shared to Prittle Prattle News via press release.
