SRIKAKULAM: Agriculture Minister Kinjarapu Atchannaidu on Thursday announced that Coromandel International Limited has submitted a proposal for allotment of 450 acres to establish a Phosphoric Acid Plant & Associated Plants with an investment of Rs 2,250 crore at Mulapeta, Srikakulam district.
To facilitate this project, State Industries and Commerce Secretary N Yuvaraj has issued a G.O. No. 211 allocating 450 acres of land to establish the project, and it will create direct employment for 400 people.
The project is designed with a production capacity of 2,000 tonnes of sulfuric acid, 650 tonnes of phosphoric acid, and 1,000 tonnes of Gypsum Plaster per day.
The target is to make the project operational by October 2030, he added. Minister Atchannaidu highlighted that the government’s decision to establish such a major industry in Mulapeta will stand as a milestone in Srikakulam’s industrial development.
“Alongside employment opportunities for local youth, the sectors including trade, transport, and services are expected to flourish, boosting the economic growth of Mulapeta and surrounding areas.” he said.
He expressed happiness that a prestigious company like Coromandel is coming forward with such a huge investment in Srikakulam district.
He said, “In line with the decisions taken at the recent State Investment Promotion Board (SIPB) meeting, the government finalised land allocations to take up the mega project in Srikakulam district."