Coromandel International Secures ₹15.39 Billion in Subsidies from Andhra Pradesh Government

Coromandel International Ltd has received a significant boost as the Andhra Pradesh government extends subsidies worth ₹15.39 billion for its investment in the state. This move aligns with the state's recent cabinet decision to enhance incentives for various industries. The company plans to utilize these subsidies for expanding its fertilizer manufacturing capacity in Kakinada by 7.5 lakh tons per annum, part of its larger ₹2,000 crore investment strategy by 2025. This development strengthens Coromandel's position in India's agrochemical sector and supports the state's industrial growth initiatives.

 

Sources: MarketScreener, Business Standard, Chemical Industry Digest