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    HomeUncategorizedCoromandel International Invests ₹1,000 Crore in New Fertilizer Plant at Kakinada, Andhra...

    Coromandel International Invests ₹1,000 Crore in New Fertilizer Plant at Kakinada, Andhra Pradesh

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    Coromandel International, a leading manufacturer of fertilizers and a subsidiary of the Murugappa Group, has announced a significant investment in expanding its production capacity. The company will invest ₹1,000 crore to establish a new plant at Kakinada, Andhra Pradesh, dedicated to producing phosphoric and sulphuric acid, critical ingredients in fertilizer production.

    Boosting Domestic Production:

    This new facility marks a step towards greater self-sufficiency in fertilizer production for India. Phosphoric and sulphuric acid are crucial components in the manufacturing process of several fertilizers. By setting up a domestic production plant, Coromandel aims to reduce import dependence and potentially stabilize fertilizer prices for Indian farmers.

    Project Details:

    • The company has officially begun the groundwork for the “Phosphoric Acid-Sulphuric Acid complex facility” at Kakinada.
    • A groundbreaking ceremony on April 26th marked the official commencement of the project.
    • Coromandel International’s Executive Chairman, Arun Alagappan, participated in the ceremony.

    What it Means for Coromandel:

    • This ₹1,000 crore investment signifies Coromandel’s commitment to growth and expansion in the fertilizer sector.
    • The new plant is expected to strengthen the company’s position as a leading fertilizer producer in India.
    • Increased production capacity could also lead to a broader range of fertilizer products offered by Coromandel.

    Looking Ahead:

    • While details regarding the plant’s production capacity and timeline for completion are yet to be revealed, this project is a positive development for India’s fertilizer industry.
    • More excellent domestic phosphoric and sulphuric acid production can contribute to fertilizer security and potentially benefit Indian farmers in the long run.

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