SPIC reveals Rs 19 billion investment strategy for 2 years

13 Mar 2024 CW Team

Southern Petrochemical Industries Corporation (SPIC) announced that it has committed to investing Rs 19 billion over the next two years as part of its strategic group expansion plans. The company revealed this commitment during the recently concluded two-day Global Investors Meet 2024.

According to the investment plan disclosed at the meeting, SPIC has designated Rs 9.7 billion to overhaul the existing urea plant, increase capacity, and establish a 150 MTPD Green Ammonia Plant. Additionally, the group company, Greenstar Fertilizers, has allocated Rs 6.4 billion for the establishment of a water-soluble fertilizer mixing plant in Chennai, a 2,500 MTPA Sulphuric acid plant, and the refurbishment of existing plants in Tuticorin. SPIC's Tuticorin Alkali Chemicals and Fertilisers is set to establish a soda ash and ammonium chloride plant in Tuticorin with an investment of Rs 2.9 billion.

In 2023, SPIC made history by becoming the first company in the country to produce green soda ash and green ammonium chloride at the Tuticorin unit. The company stated in a release that these investments, committed during GIM 2024, will result in significant direct and indirect employment in the state.

SPIC emphasised its commitment to environmental, social, and governance initiatives, stating that these principles will continue to guide its operations. The company underlined its dedication to responsible business practices and future endeavours.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..