Coromandel Getax Phosphates Pvt Ltd is among the three international firms shortlisted by the Togolese Republic (or Togo) to develop the carbonated phosphates in the West African country.
Coromandel Getax is a Singapore-based 50:50 joint venture between Coromandel International, a Murugappa Group company and Getax.
“We have been shortlisted by the Togalese authorities to mine rock phosphate and produce phosphoric acid,” said A. Vellayan, Executive Chairman, Murugappa Group.
Getax has mining expertise, while Coromandel has been a producer of phosphoric acid for several years now.
“We are the only consumer bidder shortlisted for the project, which gives us an added advantage,” Vellayan said.
Coramandel has been sourcing rock phosphate from countries like Togo and Jordan through long-term alliances.
Elenilto Mining Minerals of Israel and Balmara Resources Ltd of Australia are the other firms that have qualified for the final round. Togo is expected to announce the final winner sometime in January.
“If successful, it will take about three to four years for us to develop the project,” Vellayan said.
Coromandel Getax proposes to set up a phosphoric acid plant with a capacity of 4 lakh tonnes entailing an investment of around $500 million.
Coromandel International currently has four fertiliser units with a capacity of 3 million tonnes.
“We expect to commission the new unit in Kakinada in January,” said Kapil Mehan, Managing Director, Coromandel International Ltd.
The Kakinada unit will have a capacity of 4 lakh tonnes and will produce potassic and phosphatic complexes.
The company’s joint venture to produce phosphoric acid in Tunisia is on schedule and will be commissioned in January, he said.