Kakinada, Aug 06, 2013: The first consignment of phosphoric acid from the ‘Tunisian Indian Fertilisers’(TIFERT), a Tunisia based venture of Coromandel International Limited has arrived Kakinada on Tuesday, the 6th August 2013. Kakinada is one of the prominent costal areas in Andhra Pradesh, where Coromandel International Limited has India’s largest complex fertilisers Plant in a single location.
The TIFERT vessel, ‘MT Stolt Courage’, which departed from La Skhira Port in Tunisia about a fortnight ago with 31,269 MT Phosphoric acid, has arrived at the Deep Sea Port in Kakinada and delivered the Coromandel’s share of 12,498 MT acid. It will leave on Thursday for Sikka Port on the western coast to deliver the remaining part of about 18,771 MT Phosphoric acid to Gujarat State Fertilisers and Chemicals Ltd (GSFC), the other Indian Shareholder of TIFERT. Coromandel International Limited has the storage capacity of 72,000 MT of the acid at its Kakinada facility. Phosphoric acid is a pivotal raw material used in the manufacture of various grades of fertilizer.
It may be recalled that the TIFERT Plant, set up in La Skhira in Tunisia by Coromandel International Limited and Gujarat State Fertilisers and Chemicals Ltd (GSFC), the partners from India and Groupe Chimique Tunisien (GCT) and Compagnie Des Phosphat De Gafsa (CPG), from Tunisia, (both being Government of Tunisia entities), was inaugurated on 12th July 2013 in Tunisia. The Plant, set up at a cost of about USD 500 million, has started production and the first consignment was despatched for India, on 17th July 2013.
Coromandel International has made an investment in TIFERT aimed at securing uninterrupted supply of phosphoric acid for the Company’s operations. The Company and GSFC have entered into a long term agreement with the TIFERT to import the entire production of phosphoric acid directly to India. Coromandel International Limited and GSFC hold 15% each in the share capital of TIFERT.
Senior executives of Coromandel – Mr. Amir Alvi, Sr. VP & Head – Manufacturing (Fertilisers), Mr. Harish Malhotra, Sr. VP (Commercial) and Mr. K. Sankaranarayana Moorthy, GM (Manufacturing) and employees of Kakinada Plant received the vessel at a ceremonial function organised at the Kakinada Port. Officials from the Customs & Central Excise department, KSPL, Stevedores and executives of AKV Logistics PVT Ltd, Kakinada, which acted as the C& F agent also graced the occassion.
About 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 640 rural retail centers in the States of Andhra Pradesh and Karnataka.
The Company has clocked a turnover of 8,560 Crore during FY 2012-13. 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 22,314 Cr Murugappa Group. For more details, please visit www.coromandel.biz.
About Murugappa Group
Founded in 1900, the INR 225 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including eleven listed Companies 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., Sabero Organics Ltd., Shanthi Gears 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, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Crucible and Sociedad Química y Minera de Chile (SQM). The Group has a wide geographical presence spanning 13 states in India and 5 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, 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
Mobile : 0-9963550040