Business Daily from THE HINDU group of publications
Thursday, Nov 23, 2006
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Business Daily from THE HINDU group of publications Thursday, Nov 23, 2006 ePaper |
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Corporate
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New Projects Coromandel Fert to begin production in Jammu soon R. Balaji
Chennai , Nov. 22 Coromandel Fertilisers Ltd will start production of pesticide formulations at Jammu in a month's time, according to company officials. The unit, which will manufacture insecticides in liquid and powder forms, will have a capacity of 30-40 million litres of liquid pesticides a year. The Murugappa group company selected the location for the Rs 6-crore plant because of the market reach that it would get and the tax incentives available in Jammu, they said. The facility will give the company easy reach to the markets in Punjab and Haryana and the rest of the North. In addition, there is a five-year tax waiver followed up with a partial waiver for another five years, they said. The Rs 1,800-crore Coromandel Fertilisers has a pesticide facility at Ranipet, Tamil Nadu, catering to the southern markets. In the West, the company recently acquired Ficom Organics in Maharashtra, which will help it enter the market in Gujarat and Maharashtra. Ficom is to be merged with CFL. The objective of a dispersed production base is to bring down the lead-time and transportation costs of reaching the markets. Material from the Ranipet facility could take more than two weeks to reach the North, not to speak of the transportation cost, the officials said. Coromandel Fertilisers manufactures fertilisers at three locations - Ennore, Visakhapatnam and Ranipet.
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