Coromandel International on Tuesday 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 Rs400cr.
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.”
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 set up 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.
At around 3.03 pm, Coromandel was trading at Rs802.55 per piece up 0.94% on Sensex.