Coromandel International Signs Rs 2,000 Crore MoU with Andhra Pradesh Economic Development Board for Major Investment Push

Coromandel International Limited announced the signing of a strategic Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board outlining a proposed investment of up to Rs 2,000 crore (approximately 20 billion rupees). This investment is subject to necessary approvals and marks a significant expansion plan aimed at boosting agricultural input production in Andhra Pradesh.

The proposed investment includes key projects such as expanding the granulation capacity for complex fertilisers at the company’s Kakinada facility and setting up new multi-product plants for crop protection chemicals. This will enhance the company’s manufacturing base, improve backward integration, and reduce reliance on imports, aligning with Government of India's Atmanirbhar Bharat initiative.

Coromandel's Managing Director highlighted the company's focus on advanced technology, including setting up phosphoric and sulphuric acid plants, to ensure self-sufficiency and cater to growing farmer demand. The expansion will make Kakinada one of India’s largest fertiliser manufacturing sites, enhancing the company’s leadership in the sector.

The partnership with Andhra Pradesh underscores Coromandel International’s commitment to sustainable agriculture growth, job creation, and regional economic development.

Key Highlights:

MoU signed with Andhra Pradesh Economic Development Board for Rs 2,000 crore investment.

Investment focused on expanding fertiliser granulation capacity and crop protection plants in Kakinada and Gujarat.

Projects include phosphoric acid and sulphuric acid plants to support backward integration.

Expansion supports Atmanirbhar Bharat’s goal of fertiliser self-reliance.

Kakinada plant poised to become one of the largest fertiliser manufacturing sites in India.

Emphasis on advanced technology and sustainability in agricultural inputs.

Coromandel’s initiatives to boost local economy and employment opportunities.

Sources: NSEIndia, Times of India, Indian Chemical News, ScanX Trade