Sustainability is a key focus area at AM International; it is an integral part of our business strategy and culture. The investments unveiled by our fertilizers businesses led by SPIC, at the Global Investors Meet (GIM) 2024 aligns with our ESG driven ethos at AMIH.
GIM 2024, the business summit organized by Government of Tamil Nadu to facilitate domestic and foreign investments in the state, saw SPIC and its affiliate companies announce CAPEX investments totalling ₹1,900 crore over the next two years. This investment will help move towards sustainable manufacturing, and create additional direct and indirect jobs.
AMIH’s commitment to building businesses trusted by society is embedded in our values, and SPIC’s investment plan exemplifies this dedication.
Ashwin Muthiah, Chairman, SPIC & Founder Chairman AMIH, said,
“Our expansion strategy will be mainly supported through brownfield projects. The investments are sustainable and realistic.”
The culture at AMIH is guided by the belief that successful businesses that are sustainable in the long term deliver business profit and social good in equal measure to create a positive impact on society. The Memorandum of Understanding (MOU) signed with the state government underscores our commitment to economic development and sustainable business practices.
SPIC’s expansion plans include a ₹970 crore revamp of its existing urea plant to augment capacity and establish a 150 tonnes per day Green Ammonia plant. This expansion reflects our commitment to bolstering production capacity, diversifying operations, and driving sustainable growth.
Greenstar Fertilizers, a SPIC group company, will invest ₹640 crore in a Water Soluble Fertilizer (WSF) Mixing plant in Chennai, a 2500 MTPA Sulphuric Acid plant, and the refurbishment of DAP I and II plants in Thoothukudi. Notably, this investment marks the establishment of the second WSF facility, following the inauguration of the first plant in Thoothukudi in November 2023, operated entirely by female employees.
WSF play a transformative role in empowering farmers by offering a highly efficient and targeted approach to nutrient delivery, contributing to sustainable and responsible farming practices.
Further, our group company, Tuticorin Alkali Chemicals and Fertilizers Ltd (TFL) is allocating ₹290 crore to establish a Soda Ash and Ammonium Chloride Plant in Thoothukudi. TFL achieved a significant milestone in 2023 by becoming the first company to manufacture Green Soda Ash and Green Ammonium Chloride at its Thoothukudi plant.
Across the three businesses, intertwining profitability with social and environmental responsibility, we aim to foster a sustainable and inclusive future.
As we move forward, our focus on Environmental, Social, and Governance (ESG) initiatives remains steadfast.
