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Southern Petrochemicals Industries Corporation Ltd. Company History and Annual Growth Details

1969 - The company was Incorporated on 18th December 1969 at Chennai.

- The company is a manufacturer of all kinds of fertilisers &
chemicals including petro-chemicals & plastics.

1979 - During the year a pure Gas Hydrogen Recovery Unit was installed
to increase Ammonia Production.

1983 - The company also acquisitioned two chemical tankers 'SPIC PEARL'
& 'SPIC EMERALD' for regular delivery of Phosphoric Acid from
overseas supplies to its plants. The company has also placed an
order for a modern gas carrier.

- The company has promoted (i) Tamilnadu Petroproducts Ltd in the
joint sector alongwith TIDCO (ii) SPIC Electronics & Systems Ltd
for manufacture of IC Chips & (iii) Manali Petrochemical Ltd for
manufacture of Propylene Oxide, Propylene Glycol & Polycol.

- The company has been choosen as the Copromoter for the Rs 840
crore Aromatics Project being setup in the joint sector by
Madras Refineries Ltd.

1995 - Southern Petrochemicals Industries Corporation Ltd., Chairman
signed an MoU with Gelman Sciences of US for manufacturing
membrane filters for industrial health care operations.

- US Chemical giant EI DuPont de Nemours and Company proposes to
establish a tie-up with the Madras-based Southern Petrochemical
Industries Corporation (SPIC).

1996 - The fertiliser plants were shut down for maintenance from 23rd
March, to 9th May.

- A two hectare Floriculture EOU with Israeli technical
collaboration for Rose cut-flowers was commissioned.

- An enzyme project to produce basic enzymes and formulations for
use in the leather and detergent industries under the trade name
BIODART was commissioned.

- The Heavy Chemicals Division has entered into an agreement with
M/s. Chlorine Engineers Corporation (CEC), Japan, for the supply
of technical knowhow and basic engineering for putting up
Membrane Cell Conversion Project at its existing plant at Manali.

1997 - Spic is setting up a $160 million urea plant at Jebel Ali free
trade zone in United Arab Emirates (UAE). The plant is being
set up under a wholly owned subsidiary, Spic Fertilisers &
Chemicals, with a capacity of 1,200 tpa of urea and 6.85 tpa of

- Spic Electric Power Corporation Limited, a new venture promoted
by the Spic group, signed a power purchase agreement (PPA) with
the Tamil Nadu Electricity Board (TNEB) for its 525 MW fourth
stage Tuticorin thermal power project.

- Southern Petrochemical Industries Corporation Ltd is setting up
a wholly owned subsidiary (WOS) in Jebel Ali Free Zone (JAFZ)
near Dubai for manufacture of urea and ammonia.

- Southern Petrochemicals Industries Corporation (SPIC) has
signed an agreement with M.W.Kellogg of the United Kingdom for
its USD 160 million fertiliser complex in Dubai, through its
wholly owned subsidiary company named SPIC Fertilisers and
Chemicals FZE.

- Fertiliser major Spic has come out with a new set of proposals
for the merger of its two ventures, Spic Petrochemicals Ltd
(SPC) and Spic Aromatics and Chemicals Ltd (SACL) with Arochem,
its joint venture with Madras Refineries Ltd (MRL).

- The fertiliser giant, Southern Petrochemical Industries
Corporation (SPIC), has signed an agreement with Universal
Investments of New Zealand for forming a joint venture company,
which would process foods and export them.

1998 - Southern Petrochemical Industries Corporation Ltd (SPC) has
decided to convert its wholly owned subsidiary at Dubai into a
joint venture company by inducting two more partners in
Mauritius, to muster financial strength.

- Southern Petrochemical Investment Company Ltd (SPIC) is
diversifying into hospitality sector and has entered into a
marketing tie-up with Radisson Hotels International Inc of USA.

- Spic-SMO, a division of Southern Petrochemical Industries
Corporation Ltd (Spic), has entered into a Rs.10 crore joint
venture with Italy-based Technipetrol SpA, a wholly-owned
subsidiary of Technip group of France.

- Southern Petrochemicals Industries Corporation (Spic) has forged
a joint venture with Technipetrol Spa of Italy.

- SPIC has presented a proposal to financial institutions, to
merge its two associate companies, Manali petrochemical Ltd and
Spic Organics Ltd (SORL).

- Spic Organics Ltd has allotted 1.5 crore equity shares of Rs. 10
each at par to Southern Petrochemical Industries Corporation Ltd


-K Govindarajan quit as managing director of Spic Petrochemicals Ltd (SPC)

2000 - The Heavy Chemical Division of the Company situated at Manali is
proposed to be transferred/disposed off as a 'going concern' on
such conditions after taking into consideration the result of an
independent valuation study.

- A 50:50 Joint Venture between the Company and Pioneer Overseas
Corporation of the US, is setting up a plant for 'conditioning of
seeds' and 'cold storage of seeds'. The Joint Venture Company is
setting 5,000 MTPA seed processing plant at Yellampet in the RR
District of Andhra Pradesh.

- The Company has bagged the 'Best Productivity Award' for the year
1998-99 under the category 'fertiliser industry - Phosphatic'.

-Spic has bagged the Award of Honour for the year 1999 from the National Safety Council of India,

-VR Aravind managing director of Gulf SPIC Contracting Company WLL Kuwait will take over as the managing director of SPIC Petro.

- Tamilnadu Petroproducts (TPL) has acquired the heavy chemicals division (HCD) of Spic with the approval of various authorities

-Mr. A.C. Muthiah Vice Chairman and President took over as Chairman of SPIC following the death of his father M.A. Chidambaram

2001 - Mr M. Madhavan Nambiar has been co-opted as Nominee Director of TIDCO
in place of Mr R. Gopalan.

- Southern Petrochemical Industries Corporation Ltd (Spic), the Chennai-based MA Chidambaram flagship company, has decided to pull out of the race for acquiring governments stake in the public sector Madras Fertiliser Ltd (MFL)

- Southern Petrochemicals Industries Corporation (Spic) has agreed to reimburse over Rs 16 crore to Chennai Petroleum Corporation Ltd (CPCL) following CPCLs decision to withdraw from the over Rs 2,000 crore Arochem project in Tamil Nadu.

- Mr Ashwin C. Muthiah has been elected Vice-Chairman of the Chennai-based Southern Petrochemical Industries Corporation Ltd.


-Southern Petrochemical Industries Corporation Ltd has informed that Thiru Babu K Verghese, Deputy Managing Director, is elevated as M D of the Company in place of Dr P R Sundaravadivelu who consequent to his retirement on March 31, 2002 has laid down the Office as Vice Chairman (M D)/Director of the Company.


-SPIC-SMO, the engineering and services division of the Company, receives Letter of Award for supply and construction of double circuit transmission line on the 155 km stretch between Mysore and Nelamangala in Karnataka

-Board approved to issue/allot 2,00,00,000 equity shares of the face value of Rs.10/- each, aggregating to Rs.20 crores,at par, to the Promoters of the Company.


--SPIC has divested its entire stake in Seeds JV in favour of US major Pioneer for $17 million

--The pharmaceuticals division of Southern Petrochemical Industries Corporation Ltd (SPIC), located at Cuddalore, in Tamil Nadu, has received the approval from Food and Drug Administration of the US

-- Mr Ashwin C. Muthiah has been elected Vice-Chairman of the Chennai-based Southern Petrochemical Industries Corporation Ltd.

--The Southern Petrochemical Industries Corporation Ltd (SPIC) has been conferred the ICMA Award 2000 by the Indian Chemical Manufacturers' Association for excellence in management of safety, health and environment

--Spic Petro MD quits

--SPIC has sold its 49 per cent share in Caltex-Spic to its joint venture partner Caltex oil corporation.

-- The Southern Petrochemical Industries Corporation Ltd (Spic), has engaged in the services of two international consultancy majors to advice the group on business restructuring.

-- The Southern Petrochemicals and Industrial Corporation Ltd has got two, Rs 73 crore, contracts from the public sector PowerGrid Corporation of India Ltd (PGCIL). The projects will be completed and commissioned before the first quarter of 2005

--The Southern Petrochemical Industries Corporation Ltd (Spic) has introduced three bio-enzyme formulations for the poultry feed intended to increase the digestibility of the feed and improving the feed conversion ratio among poultry birds

--Southern Petrochemical Industries Corporation (SPIC) has closed down its ammonia unit at Tuticorin due to a leakage in the pipeline. Accident occurred when the repair works were
underway on October 1


-Jaya gets clean chit in SPIC case

- Karaikudi-based Alagappa University on August 25, 2004, confers the degree of Doctor of Letters on the SPIC group Chairman, Mr A.C. Muthiah