Secunderabad, July 05, 2011: Coromandel International Limited, India’s leading manufacturer of a wide range of fertilizers, Crop protection products and Specialty Nutrient products, has signed a long term Memorandum of Understanding with Qatar Fertiliser Company (QAFCO) for supply of Urea. QAFCO is a leading Ammonia, Urea and Melamine manufacturer with state of art facilities for manufacturing Urea, Ammonia and Melamine using Natural Gas.
Qatar Fertiliser Company is one of the largest producers of Urea and Ammonia and currently producing around 3 million tonnes of Prilled/granular Urea. With current expansion going on with Qafco 5 & 6, the Company will become the largest single-site producer of Ammonia and Urea in the world with Ammonia capacity of 3.8 million tonnes and Urea capacity of 5.6 million tonnes.
Coromandel is the largest Phosphatic fertilizer manufacturer in the private sector and has recorded impressive growth in fertilizer output and marketing during the last three years. In addition to fertilisers, Coromandel is also a leader in Specialty nutrients, Organic Manure, Agro- chemicals and rural retail. Coromandel is the first company in India to have been granted direct import permission of Urea for its captive consumption. Urea import is currently canalized through public sector import agencies like MMTC, IPL & STC. This urea is used for manufacturing complex fertilisers such as the famous GROMOR 28:28 and GROMOR 20:20.
The long term supply contract between QAFCO and Coromandel was signed by Mr. Khalifa Al Sowaidi , CEO of QAFCO and Mr. Kapil Mehan, Managing Director, Coromandel International Ltd on Tuesday, the 5th July 2011, in Secunderabad in the presence of Mr. A. Vellayan, Chairman, Murugappa Group and Mr. V. S. Sahney, Corporate President, Sun International Ltd.
“We are very excited with this agreement as it paves way for a long term association with a very reputed International Urea Manufacturer. This will be particularly important when Urea fertiliser is decanalised” said Mr. A. Vellayan, Chairman, Coromandel International Ltd, on occasion of signing of the agreement.
“We are very pleased on having reached an understanding with Coromandel International Ltd, a premium agri-input Company and part of prestigious Murugappa Group”- commented Mr. Khalifa Al Sowaidi on signing this agreement with Coromandel International Ltd. He further added – “India is one of the strategic markets for QAFCO and this agreement with Coromandel will pave way for further strengthening of QAFCO’s presence in the Indian market.”
About the Coromandel International Limited
Coromandel International Limited, India’s second largest Phosphatic fertilizer player, is in the business segments of Fertilizers, Specialty Nutrients, Crop Protection and Retail. The Company manufactures a wide range of fertilizers and markets around 2.9 million tons making it a leader in its addressable markets.
In its endeavor to be a complete plant nutrition solutions Company, Coromandel has also introduced a range of Specialty Nutrient products including Organic Fertilizers. The Crop Protection business produces insecticides, fungicides and herbicides and markets these products in India and across the globe. Coromandel is the second largest manufacturer of Malathion and only the second manufacturer of Phenthoate. Coromandel has also ventured into the retail business setting up more than 425 rural retail centers in the agriculture and lifestyle segments.
The Company clocked a turnover of Rs. 7,527 Cr during FY 2010-11. lt was ranked among the top 20 best companies to work for by Business Today and was also voted as one of the ten greenest companies in India by TERI, reflecting its commitment to the environment and society. Coromandel is a part of the Rs.17051 Cr Murugappa Group. For more details, please visit www.coromandel.biz
About the Murugappa Group
Founded in 1900, the Rs. 17051 Crores (USD 3.8 billion) Murugappa Group is one of India’s leading business conglomerates. The Group has 29 businesses including eight listed Companies actively traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Construction, Bio-products and Nutraceuticals, the Group has forged strong joint venture alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Cargill, Mitsui Sumitomo and Morgan Crucible. The Group has a wide geographical presence spanning 13 states in India and 5 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.
For Media queries, please contact
Sreenivasa Rao Behara
Head – PR, Coromandel International Limited
Tel : 040 – 66997476, 27842034/27847212
Mobile : 9963550040