Nagarjuna Agrichem Limited (NACL) is setting up a greenfield manufacturing facility with an outlay of about Rs 150 crore in the special economic zone at Achutapuram, about 40 km from Visakhapatnam, within the Petroleum, Chemicals and Petrochemical Investment Region.
NACL director and chief operating officer CM Ashok Muni handed over a cheque to Andhra Pradesh Industrial Infrastructure Corporation (APIIC) chairman and managing director BP Acharya towards initial payment for allotment of about 85 acre land at the SEZ. The plant is expected to be commissioned in 18 months from the commencement of the project. “This will be an important addition to the industrial cluster coming up within the PCPIR,” Acharya said in a release.