Nagarjuna Agrichem to invest Rs 250 crore

City-based Nagarjuna Agrichem Limited (NACL), a crop protection company, plans to expand its production capacity at a cost of Rs 250 crore.

This includes setting up a greenfield facility with Rs 250 crore in the special economic zone within the Petroleum, Chemicals and Petrochemical Investment Region near Visakhapatnam. The new facility would be ready in 2011 and will focus on technicals (active ingredients).

The company has also recently took up de-bottlenecking at Srikakulam and Ethakota facilities at a cost of Rs 40 crore.

Director and chief operating officer Ashok Muni said the investment was part of the efforts to grow by launching new branded products and entering untapped markets. The new facility would add 7,000 tonne a year capacity and could be scaled up further in modules.

It would launch five new branded products in the pesticides segment in two years for paddy, wheat and tea crops. It would enhance its distribution in Bihar, Madhya Pradesh and in the northeast by setting up 500 new dealers, according to a release.