Coromandel Fertilizers form JV in Tunisia - Tunisian Indian Fertilisers S.A

With reference to the earlier announcement regarding the Company has signed up a Shareholders Agreement with Group Chimique Tunisie, and Compagnie des Phosphates de Gafsa of Tunisia and Gujarat State Fertilizers and Chemicals Ltd (GSFC) for formation of a joint venture (JV) Company in Tunisia for manufacture of Phosphoric acid, Coromandel Fertilizers Ltd has announced that the said JV Company has since been incorporated in the name of "Tunisian Indian Fertilisers S.A." and the Company's Chairman, Mr. A Vellayan, has appointed a one of the Directors of the JV Company at a meeting held on September 26, 2006.

The Company has also signed a long-term Commercial Agreement with the JV Company for supply of Phosphoric Acid, one of the key raw materials.

Source : Equity Bulls

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