Chennai-based Kothari Industrial Corporation is set to expand its fertilizer and footwear businesses, including a major new fertilizer unit with a planned capital expenditure of Rs 7,000 crore. The company is in advanced discussions to establish an NPK (nitrogen, phosphorus, and potassium) unit in Qatar, with potential funding from the Qatari ruling family, according to J Rafiq Ahmed, Vice Chairman and Managing Director.
“We are negotiating with Sheikh Falah Bin Jabor Al Thani, though the deal has not yet been finalized,” Ahmed stated. The new NPK product is intended for the Indian market.
Currently, Kothari Industrial operates a factory in Ennore producing single super phosphate with an annual capacity of 82,000 tonnes and maintains a portfolio of agri-inputs and a fertilizer dealership network. The company has recently relisted on the BSE after 24 years.
J Rafiq Ahmed, who joined the company as an investor in 2014 and became Managing Director in 2018, is now a promoter. He has outlined plans for significant investments across various sectors, including footwear, a restaurant chain, drones, and solar panel manufacturing, totaling around Rs 16,000 crore over the next two years.
