Phosphoric acid Plant of Coromandel’s JV Company in Tunisia inaugurated
Secunderabad, July 12, 2013: A phosphoric acid Plant of ‘TunisianIndian Fertilisers (TIFERT)’, a joint venture (JV) company between India’sleading fertilizer manufacturer – Coromandel International Limited andGujarat State Fertilisers and Chemicals Ltd (GSFC) and Tunisia’s Groupe ChimiqueTunisien (GCT) and Compagnie Des Phosphat De Gafsa (CPG), (both are Governmentof Tunisia entities), has been inaugurated on Friday, the 12th July 2013 inTunisia.
TIFERT Plant will consume around 1.4 million tons of Tunisian phosphate rockper year, producing 360,000 tons of phosphoric acid annually. It is equippedwith the latest technology and meets the international environment efficiencystandards. The Plant has started production and the first shipment is expectedto reach Coromandel’s facility in Kakinada (AP) by end of this month.
Coromandel International has made a strategic investment in TIFERT aimed atsecuring uninterrupted supply of phosphoric acid for the company’s operations.The Company and GSFC have entered into an agreement with the TIFERT to importall the production of phosphoric acid directly to India on a long term basis.Coromandel International Limited and GSFC hold 15% share each in this 498million USD project with balance 70% being held by GCT and CPG.
The Plant was originally scheduled to be commissioned in 2011. But theproject was delayed due to some internal developments in Tunisia. However, theproject is now operational and running near to its full capacity.
Mr. Mehdi Jomma, Minister of industry, Tunisia and Mr. Srikanta K. Jena,Minister of State for Chemicals & Fertilizers, Government of India, havejointly inaugurated the Plant, in a function attended by Mr. Sudhir Mittal,Secretary (Fertilisers), Government of India, Mr. A Vellayan, ExecutiveChairman, Murugappa Group and other industrialists, senior bureaucrats andAmbassador of India.
While delivering his address, Mr. A Vellayan termed the project as a dreamcome true. He had initiated the project from initial stage in 2004-05 to itsfinal culmination to a world-class Phosphoric acid facility created.
Commenting on the inauguration, Mr. Kapil Mehan, Managing Director,Coromandel International Limited, stated – “I am happy to note that the Planthas been successfully inaugurated and congratulate all the partners andemployees of TIFERT on this historic occasionâ€. He further added – “Withtwo countries coming together to serve their respective countries – as Tunisiawill get scarce foreign exchange while monetizing its natural resources where asIndia will get much needed Phosphatic fertilizers to further improve its foodsecurity situation. This project will go a long way to ensure smooth functioningof the company’s recently commissioned fertilizer Plant (C Train) in Kakinadaâ€
About Coromandel International Limited
Coromandel International Limited, India’s second largest Phosphaticfertilizer player, is in the business segments of Fertilizers, SpecialtyNutrients, Crop Protection and Retail. The Company manufactures a wide range offertilizers and markets around 2.9 million tons making it a leader in itsaddressable markets.
In its endeavor to be a complete plant nutrition solutions Company,Coromandel has also introduced a range of Specialty Nutrient products includingOrganic Fertilizers. The Crop Protection business produces insecticides,fungicides and herbicides and markets these products in India and across theglobe. Coromandel is the second largest manufacturer of Malathion and only thesecond manufacturer of Phenthoate. Coromandel has also ventured into the retailbusiness setting up more than 640 rural retail centers in the States of AndhraPradesh and Karnataka.
The Company clocked a turnover of Rs. 8,560 Crore during FY 2012-13. lt wasranked among the top 20 best companies to work for by Business Today and wasalso voted as one of the ten greenest companies in India by TERI, reflecting itscommitment to the environment and society. Coromandel is a part of the Rs.22,314 Cr Murugappa Group.
About Murugappa Group
Founded in 1900, the INR 225 Billion Murugappa Group is one of India’sleading business conglomerates. The Group has 28 businesses including elevenlisted Companies traded in NSE & BSE. Headquartered in Chennai, the majorCompanies of the Group include Carborundum Universal Ltd., CholamandalamInvestment and Finance Company Ltd., Cholamandalam MS General Insurance CompanyLtd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D.Parry (India) Ltd., Parry Agro Industries Ltd., Sabero Organics Ltd., ShanthiGears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components,Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products andNutraceuticals, the Group has forged strong alliances with leading internationalcompanies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, MorganCrucible and Sociedad QuÃmica y Minera de Chile (SQM). The Group has a widegeographical presence spanning 13 states in India and 5 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola,Gromor and Paramfos are from the Murugappa stable. The organization fosters anenvironment of professionalism and has a workforce of over 32,000 employees. Formore details, visit www.murugappa.com
For Media queries, please contact:
Sreenivasa Rao Behara
Head – PR, Coromandel International Limited
Tel : 040 – 66997476
Mobile : 0-9963550040
Email : sreenivasaraob@coromandel.murugappa.com
Website : www.coromandel.biz
