Coromandel announces Rs 137 crore investment in Kakinada bagging plant and raises stake in Senegal's BMCC
Coromandel International has announced two significant developments as part of its expansion and raw material security strategy: 1. Setting up of new bagging plant at Kakinada Proposed Capacity Addition: 3888 Metric Tonnes Per Day (MTPD) with 6 high-efficiency bagging machines (90% design efficiency).
Execution Timeline: 18 months from the date of approval.
Investment Required: Rs 137 crore.
Mode of Financing: Combination of internal accruals and external financing.
Purpose: To reduce operational costs and improve logistics by bringing the bagging process in-house. This facility will be connected to a granulation train and railway platform, replacing third-party bagging dependency. 2. Acquisition of additional stake in Senegal-based BMCC Entity: Baobab Mining and Chemicals Corporation (BMCC), Senegal.
Current Stake: 53.82% (held via subsidiary Coromandel Chemicals Ltd – CCL).
New Stake Acquired: 17.69%, increasing total holding to 71.51% .
Cost of Acquisition: USD 7.70 million.
Nature of Transaction: Related party but at arm's length; promoters have no direct interest.
Purpose of Acquisition: To ensure long-term and sustainable supply of rock phosphate , a key raw material for phosphoric acid, which is used in complex fertilizers.
Approvals Required: From the Government of Senegal.
Completion Timeline: Expected in Q2 and Q3 of FY26.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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