Page 146 - CW E-Magazine (8-10-2024)

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ROCK PHOSPHATE

Coromandel buys additional stake in Senegal-based

phosphate miner

Coromandel International Ltd., a
Murugappa Group company, has an-
nounced that its wholly-owned subsi-
diary Coromandel Chemicals Ltd. (CCL)
will acquire an additional 8.82 percent
stake in Senegal’s Baobab Mining and
Chemicals Corporation (BMCC). This
acquisition will increase CCL’s share-
holding in the Senegalese rock phos-
phate miner to 53.8 percent from 45
percent. The deal involves purchasing
44,094 shares from existing shareholder
Baobab Fertilizer Africa.

Coromandel plans to invest $3.84-mn
(Rs. 32-crore) in BMCC, alongside a
loan infusion of $6.5-mn (Rs. 54-crore) BMCC produces rock phosphate, a “Over the past two years, we have
aimed at funding expansion pro- critical raw material for manufacturing implemented various initiatives to opti-
jects and addressing working capital phosphoric acid (an intermediate used mise rock production at BMCC, and the
needs, according to a company state- in the production of phosphatic ferti- increased throughput will support the
ment. lisers). Incorporated in 2011, BMCC upcoming phosphoric acid plant at our
holds a renewable exploitation permit Kakinada unit,” said Mr. S. Sankara-
Coromandel stated that this invest- for processing phosphate ore. CCL ini- subramanian, Managing Director &
ment aims to strengthen its backward tially acquired a 45% stake in BMCC CEO of Coromandel International Ltd.
integration and secure its supply chain. in September 2022 and has since stabi-
The transaction is subject to approval lised mining operations. The company “The Senegalese rock is currently
from the Government of Senegal and is is currently commissioning a fi xed being blended at our Visakhapatnam
expected to be completed in the second processing plant to optimise rock phos- unit with other rock sources, providing
and third quarters of FY 2024-25. phate production. operational fl exibility,” he added.

Greenzo Energy bags green hydrogen project

in Tamil Nadu
Greenzo Energy, the New Delhi- company assigned to this project by Mr. Sandeep Agarwal, Managing Di-
based manufacturer of alkaline elec- TANGEDCO. rector of Greenzo Energy India, said, “As
trolysers, has secured a green hydrogen the capacity for grid and renewable energy
project through a competitive bidding As part of this initiative, Greenzo continues to grow, our scalable solutions
process in Tamil Nadu. The project will Energy will establish a hydrogen and indigenously developed electrolysers
be implemented at the 1,320-mega- generation plant with a capacity of 20 will address the increasing demand for
watt (MW) Ennore SEZ Supercritical normal cubic metres of hydrogen per green hydrogen in India. We are looking
Thermal Power Plant (TPP), owned by hour. The project is scheduled to be forward to supporting TANGEDCO’s
the Tamil Nadu Generation and Dis- completed within the stipulated time. transition to a cleaner energy landscape
tribution Corporation (TANGEDCO). The electrolysers will be designed and through this project by utilising our mar-
Bharat Heavy Electricals Ltd. (BHEL) manufactured at Greenzo Energy’s ket knowledge, extensive experience, and
is a project engineering management facility in Sanand, Gujarat. technology to make a substantial impact.”

146 Chemical Weekly October 8, 2024

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