SPIC to invest Rs 1,900 crore over two years in Tamil Nadu
Southern Petrochemical Industries Corporation Ltd (SPIC Ltd) on Monday said it will invest Rs 1,900 crore in Tamil Nadu over the next two years following a memorandum signed with the state government as part of the Global Investors Meet (GIM) in Chennai.
The investment would be made across SPIC Ltd, Greenstar Fertilizers Ltd, and Tuticorin Alkali Chemicals and Fertilizers Ltd, the company said in a statement.
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Further, it said Greenstar Fertilizers will invest Rs 640 crore in a water soluble fertiliser mixing plant in Chennai, a 2,500 MTPA sulphuric acid plant, and the refurbishment of DAP I and II plants in Thoothukudi.
The investment marks the second water soluble fertiliser facility, following the inauguration of the first plant in November 2023 in Thoothukudi, which is entirely operated by women employees.
Besides, the company said, Tuticorin Alkali Chemicals and Fertilizers will allocate Rs 290 crore to establish a soda ash and ammonium chloride plant in Thoothukudi.
In 2023, Tuticorin Alkali Chemicals and Fertilizers became the first company to manufacture green soda ash and green ammonium chloride at Thoothukudi.
“These investments, committed during GIM 2024, will generate significant direct and indirect employment in the state. Demonstrating a commitment to sustainability, environmental, social, and governance (ESG)
