SPIC Group to invest Rs 1,900 crore in Tamil Nadu
- SPIC Group pledged Rs 1,900 crore investment in Tamil Nadu over the next two years across SPIC, Greenstar Fertilizers and Tuticorin Alkali Chemicals and Fertilizers.
- SPIC will invest Rs 970 crore to revamp the existing urea plant, augment capacity and establish a 150 MTPD green ammonia plant.
- Greenstar Fertilizers will invest Rs 640 crore to build a Chennai water‑soluble fertilizer (WSF) mixing plant, a 2,500 MTPA sulphuric acid plant and refurbish DAP I and II in Thoothukudi.
- Tuticorin Alkali Chemicals and Fertilizers will invest Rs 290 crore to set up a soda ash and ammonium chloride plant; it produced Green Soda Ash and Green Ammonium Chloride at Thoothukudi in 2023.
Deal overview
SPIC Group signed an MoU with the Tamil Nadu government at the Global Investors Meet, committing Rs 1,900 crore of investment across its businesses over the next two years.
SPIC projects
SPIC has earmarked Rs 970 crore to revamp its existing urea plant, augment capacity and establish a 150 MTPD green ammonia plant.
Greenstar Fertilizers projects
Greenstar Fertilizers will invest Rs 640 crore to construct a water‑soluble fertilizer (WSF) mixing plant in Chennai, install a 2,500 MTPA sulphuric acid plant and refurbish DAP I and II units in Thoothukudi. This is the group's second WSF facility following the first in Thoothukudi opened in November 2023, which is fully operated by women employees.
Tuticorin Alkali Chemicals and Fertilizers (TFL)
TFL will allocate Rs 290 crore to establish a soda ash and ammonium chloride plant in Thoothukudi; in 2023 it became the first company to manufacture Green Soda Ash and Green Ammonium Chloride at that site.
Employment and ESG
The group said the commitments made during GIM 2024 will generate significant direct and indirect employment in the state and that Environmental, Social and Governance initiatives will continue to guide its operations.
Source: spic.in