Southern Petrochemical Industries Corporation Ltd (SPIC) has announced a substantial investment of ₹1,900 crore in Tamil Nadu over the next two years. This strategic initiative, formalized through a memorandum of understanding with the state government during the Global Investors Meet in Chennai, aims to enhance the state’s industrial landscape and generate significant employment opportunities.
SPIC Ltd: Plans to allocate ₹970 crore to revamp its existing urea plant, augment production capacity, and establish a 150 metric tonnes per day (MTPD) green ammonia plant. This move underscores SPIC’s commitment to sustainable agricultural practices and support for the farming community.
Greenstar Fertilizers Ltd: Intends to invest ₹640 crore in a water-soluble fertilizer mixing plant in Chennai, a 2,500 MTPA sulphuric acid plant, and the refurbishment of DAP I and II plants in Thoothukudi. Notably, this marks the second water-soluble fertilizer facility, following the inauguration of the first plant in Thoothukudi in November 2023, which is entirely operated by women employees.
Tuticorin Alkali Chemicals and Fertilizers Ltd (TFL): Plans to invest ₹290 crore to establish a soda ash and ammonium chloride plant in Thoothukudi. In 2023, TFL became the first company to manufacture green soda ash and green ammonium chloride at its Thoothukudi plant, highlighting its commitment to environmentally friendly production methods.
These investments are expected to create substantial direct and indirect employment opportunities within the state, contributing to economic growth and development. SPIC’s dedication to sustainability is evident through its adherence to Environmental, Social, and Governance (ESG) principles, which will continue to guide its operations and future endeavors.
This comprehensive investment strategy reflects SPIC’s commitment to advancing Tamil Nadu’s industrial sector while promoting sustainable and responsible business practices.
