Coromandel receives first consignment from Tunisian joint venture

Coromandel International Ltd has received its first consignment of phosphoric acid from the Tunisian Indian Fertilisers (TIFERT), a Tunisia based venture of Coromandel International Limited on August 6, 2013. The consignment arrived at Kakinada, one of the prominent coastal areas in Andhra Pradesh, where Coromandel International has one of India’s largest complex fertilisers plant in a single location. Phosphoric acid is a pivotal raw material used in the manufacture of various grades of fertiliser. 

The TIFERT vessel, carrying 31,269 MT phosphoric acid, delivered the Coromandel’s share of 12,498 MT acid, with the remaining part of about 18,771 MT of acid will delivered to Gujarat State Fertilisers and Chemicals Ltd (GSFC), the other Indian shareholder of TIFERT.

The TIFERT Plant, set up in La Skhira in Tunisia by the Indian partners (Coromandel International and GSFC), and Groupe Chimique Tunisien (GCT) and Compagnie Des Phosphat De Gafsa (CPG), from Tunisia, (both being Government of Tunisia entities), was inaugurated on July 12, 2013 in Tunisia. The plant, set up at a cost of about $ 500 million, has started production and the first consignment was despatched for India, on July 17, 2013.

Coromandel International has made an investment in TIFERT aimed at securing uninterrupted supply of phosphoric acid for the company’s operations. The company and GSFC have entered into a long term agreement with the TIFERT to import the entire production of phosphoric acid directly to India. Coromandel International and GSFC hold 15% each in the share capital of TIFERT.