Coromandel International is investing ₹1000 crore to establish a Phosphoric Acid-Sulphuric Acid plant in Kakinada, Andhra Pradesh, projected to be completed in two years. The facility will include a 650 ton per day Phosphoric Acid Plant and an 1800 ton per day Sulphuric Acid Plant, reducing reliance on imported acid by over 50%. Once operational, the plant will contribute to around 15% of India's NPK fertiliser output.
Coromandel International has commenced the project activity to establish a Phosphoric Acid-Sulphuric Acid plant facility in Kakinada, Andhra Pradesh, with an estimated outlay of ₹1000 crore. The project is expected to be commissioned within two years.
The proposed 650-ton-per-day (TPD) Phosphoric Acid plant will utilise advanced DA-HF process technology and an automated DCS system, improving backward integration capacities and ensuring stable phosphoric acid supplies for fertiliser manufacturing. This will replace over 50% of the imported acid requirement.
Additional Read: Share Market Updates
In addition to the Phosphoric Acid facility, Coromandel plans to set up an 1800 TPD Sulphuric Acid Plant to meet captive needs in phosphoric acid manufacturing and increase power generation from waste heat.
Phosphoric acid and Sulphuric acid are essential intermediates for manufacturing Phosphatic fertilisers like DAP and NPKs. The integration of these facilities will make the Kakinada unit an integrated complex, similar to the ones in Visakhapatnam and Ennore.
With a capacity of approximately 2 million tons, the Kakinada plant is India's second-largest phosphatic fertiliser facility, contributing close to 15% of the nation's NPK fertiliser output. Additionally, the plant serves as a habitat for various bird species, playing a significant role in biodiversity conservation.
Sources:
https://www.business-standard.com/markets/capital-market-news/coromandel-international-starts-establishment-of-rs-1000-cr-phosphoric-and-sulphuric-acid-complex-124042900921_1.html
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Share Market Today | Gift Nifty Positive, US Markets Soar
16 May, 2024 | 5 Min. read
Commodities Market Today | Crude Up by 0.78%
16 May, 2024 | 1 Min. read
Gold Rate Today | Gold Prices Rally, Up 1.2%
16 May, 2024 | 2 Min. read
Upcoming Q4 Results Today | M&M, HAL, GAIL, Concor, Biocon
16 May, 2024 | 3 Min. read
Coal India & NMDC Explore Lithium Mines in Chile and Australia
16 May, 2024 | 2 Min. read
Centre Slashes Windfall Tax on Crude from ₹8,200 to ₹5,700/MT
16 May, 2024 | 2 Min. read
Thermax Eyes Green Hydrogen as Key Investment Segment
16 May, 2024 | 2 Min. read
Mastering Indian Intraday Trading: Strategies & Tips
16 May, 2024 | 5 Min. read
Understanding Insider Trading: SEBI Regulations, Reasons, and Punishments
16 May, 2024 | 5 Min. read
Best Real Estate Stocks in India
16 May, 2024 | 5 Min. read
Discover Best Stocks Under Rs. 100
16 May, 2024 | 4 Min. read
Mastering Stock Market Trends: Understanding and Applying Trend Analysis Technique
16 May, 2024 | 4 Min. read
Analysis to Become a Pro Investor
28 Dec, 2023 | 4 Min. read
Women In Real Estate Investing (Investree)
28 Dec, 2023 | 5 Min. read
How To Check Prudent Corporate Advisory IPO Allotment Status
27 Dec, 2023 | 3 Min. read
How To Boost Credit Score? – Steps to Improve Creditworthiness
27 Dec, 2023 | 4 Min. read
Advantages and Disadvantages of Opening Multiple Demat Accounts
26 Dec, 2023 | 4 Min. read
7th CPC LTC: Leave Travel Concession Rules for Central Government Employees
26 Dec, 2023 | 4 Min. read
7th Pay Commission: House Building Advance (HBA) Interest Rate FY 2023-24
26 Dec, 2023 | 5 Min. read
The Future of Trading: Exploring Bajaj Broking’s Demat Features
26 Dec, 2023 | 6 Min. read
7th Central Pay Commission Cpc Fitment Table
23 Dec, 2023 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading