Coromandel International Ltd, a leading phosphatic fertilizer player in the private sector, has commissioned its new ₹400 crore state-of-the-art sulphuric acid plant at its fertilizer complex in Visakhapatnam.
The new facility, which is the company’s third sulphuric acid unit, will have a production capacity of 1,650 metric tonnes per day. With this, Coromandel’s sulphuric acid capacity will increase to 11 lakh tonnes per annum from 6 lakh tonnes per annum, supporting its requirement towards downstream processes involving phosphoric acid and phosphatic fertilizer production.
“This investment is in line with our company’s strategy of strengthening backward integration and ensuring supply security of key raw materials, promoting self-reliance in our operations. Furthering our sustainability initiatives, we have successfully set up a modern desalination plant, which will recycle sea water for usage in our operations,” said Arun Alagappan, Executive Vice Chairman, Coromandel International.
The new sulphuric acid plant, which has been set up in 18 months, has been designed to meet one of the lowest emission standards globally. Steam generated from the the plant will be used for captive power generation. The new 6 MLD desalination plant has been set up in partnership with Veolia Water Technology and Solutions.
Alagappan said India is the 3rd largest importer of sulphuric acid globally, importing nearly 20 lakh tonnes of acid per annum. Our investment in the sulphuric acid plant is in line with the Prime Minister’s vision of Athmanirbhar Bharat. With the commissioning of the company’s new sulphuric acid plant, India’s import dependence will go down by 25-30 per cent.
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With a production capacity of 3.5 million tonnes per annum of complex fertilizers, Coromandel has been focusing on strengthening its backward integration capabilities across key raw materials and intermediates like phosphoric acid, sulphuric acid, and rock phosphate.
The stock of the company declined 1.3% to trade at ₹1,145 on NSE at 9.50 am.