Coromandel goes big: ₹1,029 crore investment in new acid plants

Coromandel International's board has greenlit the establishment of new phosphoric and sulphuric acid plants at its Kakinada fertiliser unit in Andhra Pradesh, entailing a significant investment of Rs 1,029 crore.

Within the next 24 months, the proposed facilities are set to augment the capacity by 750 tons per day (tpd) for phosphoric acid and 1,800 tpd for sulphuric acid. Financed through internal accruals and loans, these projects aim to diminish the reliance on imports and transform Kakinada into an integrated facility. However, the expansion of backward integration capabilities is contingent on obtaining necessary regulatory approvals. The decision stems from the full utilization of the existing 1,550 tpd phosphoric acid and 4,200 tpd sulphuric acid capacities.

This strategic investment aligns with Coromandel International's long-term objectives to secure vital raw materials for its fertiliser production. By enhancing cost efficiencies and ensuring raw material security, the company's move contributes to the government's vision of Atma Nirbhar Bharat, fostering self-reliance.

News by Rahul Yelligetti