Southern Petrochemicals Industries Corporation (SPIC) has proposed to consider the closing of the manufacturing operations relating to Penicillin-G Unit, Active Pharmaceutical Ingredients (API) and Research & Development Unit Carried out at the Factory situated at Kudikadu Village, Cuddalore, TamilNadu from such date as decided by the management as they deem fit. Further, the company will also retrench the services of workmen and the officers who are found to be surplus.
Last year in October, Southern Petrochemical Industries Corporation had started trial production at the tuticorin plant in Tamil Nadu. The company's promoters for this had infused Rs 50 crore and another investment worth Rs 100 crore was in the pipeline.
Southern Petrochemical Industry Corporation since its founding has been providing product and services that feed, nourish, and protect the agriculture and rural ecosystem. The company is now a well diversified one with area of businesses spreading from fertilizers to pharma.