ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Good Performance Likely to Continue

Good Performance Likely to Continue Hansavivek SOUTHERN PETROCHEMICAL IN- DUSTRIES CORPORATION (SPIC) is expanding and widely diversifying its activities. It is seeking permission to set up plants for manufacture of 900 tonnes of ammonia and 1,500 tonnes of urea per day at Tuticorin at a cost of Rs 400 crore. A letter of intent for increasing the capacity of the DAP I plant has been received by the company and is being taken up for implementation this year. The capacity of the plant will increase from 500 to 850 tonnes per day. The erection of the gypsum board pilot plant is in the final stage of completion. This would enable the company to find alternate use for the byproduct, gypsum, produced by the phosphoric acid plant. At present the company is importing about 1.2 lakh tonnes of phosphoric acid in addition to its own manufacture to meet the requirements of DAP production. With a view to regulating the delivery pattern from various overseas suppliers so that its production is not affected, the company is considering purchase of a ship for about Rs 15 crore for carrying phosphoric acid. Clearance from the Central government in this regard is awaited. The implementation of the fluorine recovery plant as a means of pollution control and as an intermediate for by-product manufacture is in an advanced stage and is expected to be commissioned this year. This will be followed by the implementation of the aluminium fluoride project for which clearance for import of components of machinery is awaited from the government. Work on the 18 MW captive power plant is in progress and the unit will be operational by end 1985. This will ensure 100 per cent availability of power for existing plants at Tuticorin. The Tamil Nadu Industrial Development Corporation has chosen the company as a joint promoter for a Rs 130-crore linear alkyl benzene (LAB) project to be located at Manali, Madras. The company will be investing 25 per cent of the equity capital of the new joint sector company 'Tamil Nadu Petroproducts' which will implement the project. The company also proposes to increase its equity share to 25 per cent in Alkali Chemicals and Fertilisers. A new company under the name 'SPIC Electronics and Systems' has been registered to implement a Rs 10-crore project for the manufacture of magnetic tapes. SPIC has taken over, subject to clearances by statutory bodies, on lease the ailing furfural unit of Southern Agrifurance Industries. Various schemes are being considered to put the unit back on the rails.

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