Kothari Industrial Corporation to invest ₹16,000 Crore in Core Sectors

Kothari Industrial Corporation Ltd. (KICL) is undergoing a significant transformation under the leadership of its new promoter, J. Rafiq Ahmed. The company has unveiled ambitious plans to focus on core sectors, including fertilizers, footwear, synthetic textiles, and the food industry, with a total investment of approximately ₹16,000 crore. These major projects are expected to be completed within the next two years, marking a new chapter in the company's growth.

One of the flagship projects under this initiative is the establishment of a footwear components park in Perambalur, Tamil Nadu. This park has already attracted global brands like Crocs and Fila, who have partnered with Phoenix Kothari Footwear. The park is set to become a hub for footwear manufacturing, with more brands expected to join, boosting the region's industrial profile and creating significant employment opportunities.

In addition to the footwear sector, KICL is also venturing into emerging technologies with plans to establish a drone training center in Madurai. This center will serve as a precursor to a larger venture—the manufacture of drones, positioning KICL at the forefront of India's growing drone industry. This move aligns with the government's push for advanced technology and innovation in the country.

KICL is also exploring international expansion, particularly in the fertilizer sector, with plans to set up a 1.2 million tonne fertilizer plant in Qatar. This strategic move will strengthen KICL's presence in the global market and support its efforts to meet the increasing demand for fertilizers in the agriculture sector.

Overall, these initiatives represent a bold and diversified strategy by KICL to rejuvenate its operations and solidify its presence in key industrial sectors. With substantial investments and strategic partnerships, KICL is poised for significant growth and innovation in the coming years.

News by Rahul Yelligetti