Southern Petrochemical Industries Corp Ltd (SPIC) announced significant investments during the Global Investors Meet in Chennai through the signing of a Memorandum of Understanding (MOU) with the state Government. Under the visionary leadership of Ashwin C Muthiah, Chairman, SPIC, the Group pledges an investment of INR 1,900 crore over the next two years, spanning SPIC Ltd, Greenstar Fertilizers Ltd, and Tuticorin Alkali Chemicals and Fertilizers Ltd.

As part of an ambitious Group expansion, SPIC is earmarking INR 970 crore to revamp the existing Urea plant, augment capacity, and establish a 150 MTPD Green Ammonia plant. The company remains committed to farmers’ economic empowerment and yield enhancement and is steadfastly dedicated to serving the agricultural community.

Greenstar Fertilizers Ltd is set to invest INR 640 crore in a Water Soluble Fertilizer (WSF) Mixing plant at Chennai, a 2,500 MTPA Sulphuric Acid plant, and the refurbishment of DAP I and II plants in Thoothukudi. This investment marks the second WSF facility, following the inauguration of the first plant in Thoothukudi in November 2023, which is notable for being entirely operated by women employees.

Tuticorin Alkali Chemicals and Fertilizers Ltd (TFL) will allocate INR 290 crore to establish a Soda Ash and Ammonium Chloride Plant in Thoothukudi. In 2023, TFL achieved a milestone by becoming the first company to manufacture Green Soda Ash and Green Ammonium Chloride at its Thoothukudi plant.

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) initiatives will continue to guide SPIC’s operations, underlining its dedication to responsible business practices and future endeavors.

For more information: www.spic.in