Tunisian Indian Fertilisers (TIFERT), a joint venture company between Coromandel International Limited and Gujarat State Fertilisers and Chemicals Ltd (GSFC) and Tunisia's Groupe Chimique Tunisien (GCT) and Compagnie Des Phosphat De Gafsa (CPG) (both are government of Tunisia entities), was inaugurated on Friday in Tunisia.
According to Coromandel, the TIFERT plant will consume around 1.4 million tonnes of Tunisian phosphate rock producing 360,000 tonnes of phosphoric acid annually. It has started production and the first shipment is expected to reach Coromandel International's facility in Kakinada (Andhra Pradesh) by the end of this month.
The company stated in a press release here on Friday it had made a strategic investment in TIFERT aimed at securing uninterrupted supply of phosphoric acid for the company's operations. The company and GSFC have entered into an agreement with the TIFERT to import all the production of phosphoric acid directly to India on a long-term basis.
Coromandel International Limited and GSFC hold 15 per cent share each in the $498 million project with balance 70 per cent being held by GCT and CPG.
The plant was originally scheduled to be commissioned in 2011.
