Coromandel preps for new businesses, plans to invest Rs 1,000 cr in 2 years

Agriculture solutions company will get into speciality and industrial chemicals

Coromandel International, an agriculture solutions company, said on Wednesday it will invest Rs 1,000 crore in the next two years to expand operations in crop protection chemicals and enter the contract development and manufacturing organisation (CDMO) business.

Coromandel, a Murugappa Group company, deals in fertilisers, crop protection chemicals, bio products, specialty nutrients, organic fertilizers, and retail.

The company's board, in a meeting on Wednesday, approved plans to expand operations and a get into speciality and industrial chemicals. This is in line with the company’s strategy to strengthen the crop protection chemicals business and leverage its technical capabilities