Coromandel Fertilisers, the flagship company of Chennai-based Murugappa Group plans to invest Rs. 1,500 crore over the next two years to transform into a diversified agri-solution and rural marketing company with global ambitions.
A Vellayan, chairman of the company told reporters after unveiling the new brand identity and effecting change in name to Coromandel International Limited on Friday said that the company was planning to increase its fertiliser production at its Kakinada plant in Andhra Pradesh, from 2.9 million tonnes per annum to 4 million tonnes.
He said that the company is planning to expand its pesticides business through both organic and inorganic routes and targetted an investment of Rs 600 crore to Rs 700 crore.
The pesticides business is relatively small at present with revenues of about Rs 350 crores and the company was looking for couple of acquisitions, Vellayan said.
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