Madras Petrochem started operations in 1970, in technical collaboration with WITCO Chemical Corporation, US. The company has a refinery at Manali, Madras.
The company which became sick was referred to the BIFR in the late 80s. Under the BIFR scheme, the company was taken over by Mahavir Plantations in 1991.
In 1992-93, the company commenced international marketing by export of 100 tpa of sulphonate to the US. In 1993-94, the company undertook a project to manufacture 10,000 tpa of single super phosphate (SSP). The SSP unit was commissioned in 1995. As a part of its diversification programme, the company developed products like solvents, hydraulic fluids and lubricants, cable jelly, detergent slurry and liquid sulphur-di-oxide.
During 1997-1998, the Company confined its production to Transformer Oil only. Since January 1997, the Sulphuric Acid\Oleum plant has been shut down due to high costs of production. The Company's proposal for production and marketing of Cable Jelly was shelved during the year under report.