Coromandel International has partially resumed operations and restoration of power supply at its unit at Visakhapatnam where temporary stoppage of work had to be effected in the wake of cyclone ‘Huhhud’.
The cyclone has not caused any major damage to the company's manufacturing facilities. The company has successfully restored power at its unit through one of its feeder and certain intermediate plants plus one of the granulation plants have started operations, however some persisting problems still need to be addressed. Asset integrity work has been initiated at all the plants and all associated infrastructural plants.
The company estimates the production during the month of October and November, 2014 to be lower than the normal output. The surveyors of the insurance company have started the inspection of the damages while the company has asked the insurance company for an interim release of funds.
Coromandel International is the country’s second-largest phosphatic fertilizer player. Its crop protection business produces insecticides, fungicides and herbicides and markets these products in India and across the globe. The firm has also ventured into the retail business, setting up more than 640 rural retail centres in Andhra Pradesh and Karnataka.
