Chennai, Nov 16 (IANS): Fertiliser major Coromandel International Ltd will set up a new Rs 400 crore, 1,650 ton per annum sulphuric acid plant in Visakhapatnam.

Part of the Rs 417 billion Murugappa group, Coromandel International has also signed technology partnership agreements with MECS (Monsanto Enviro-Chem Systems) and TKIS (ThyssenKrupp Industrial Solutions).

With the new plant, Coromandel International will increase its sulphuric acid production capacity by five lakh ton per annum to 11 lakh ton per annum.

The steam generated from the sulphuric acid production process shall also be used for captive power generation.

"India is a net importer of sulphuric acid, and the third largest importer globally, accounting for close to 20 lakh metric ton of imports," Arun Alagappan, Executive Vice Chairman, Coromandel International said.

According to him, the company is setting up the new plant in line with the Atmanirbhar Bharat vision of Prime Minister Narendra Modi for import substitution and promotion of local manufacturing.

Alagappan said the new plant will improve the self-sufficiency and availability of phosphatic fertiliser in the country.

Coromandel International is the largest private phosphatic fertilizer manufacturer and marketer in India.

The new plant will come up within the company's existing plant premises in Visakhapatnam having a production capacity of 1.3 million ton per annum of complex fertilisers and a captive phosphoric acid production capacity of close to four lakh ton per annum.