Coromandel International secures Rs. 1,539 crore investment subsidy from Andhra Pradesh government for fertilizer plant expansion

Coromandel International Limited has officially disclosed that it has received an order from the Government of Andhra Pradesh regarding the extension of capital and other subsidies for the company’s proposed investment of Rs. 1,539 crore in expanding its fertilizer manufacturing facility at Kakinada. This decision, communicated via a Government Order dated February 10, 2025, offers an incentive of 45% of the eligible fixed capital investment, subject to specific compliances and conditions.

The company highlighted that these incentives are tied to strict adherence to project timelines, investment targets, and employment commitments. The disclosure aligns with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, ensuring that key stakeholders remain informed about material developments.

This expansion project is expected to bolster Coromandel International’s production capacity and further strengthen its foothold in the agricultural inputs sector. Investors and stakeholders will closely monitor the project’s progress, especially with the substantial backing from state authorities.