Pondy Oxides and Chemicals Ltd Inks MoU with Tamil Nadu Government

Pondy Oxides and Chemicals Limited has formalized a Memorandum of Understanding (MoU) with Tamil Nadu Guidance, the nodal agency of the Government of Tamil Nadu for Investment Promotion and Facilitation. The agreement outlines plans to establish advanced Recycling and Manufacturing Plants focusing on Non-Ferrous Metals, Lithium-Ion Batteries, Paper, Plastics, and Rubber, contributing significantly to sustainability and the circular economy in the state of Tamil Nadu.

The MoU was officially signed and exchanged on January 8, 2024, during the Tamil Nadu Global Investors Meet 2024 in Chennai.

In a move aligning with environmental responsibility and circular economy principles, Pondy Oxides and Chemicals Limited is set to invest between Rs. 300 Crores to Rs. 500 Crores in the proposed projects over the next five years within the state of Tamil Nadu. The initiative is expected to create direct and indirect employment opportunities for approximately 1200 individuals.

As part of the collaboration, the Government of Tamil Nadu has committed to offering facilitation and support to the company. This includes necessary infrastructural support and regulatory facilitation, adhering to applicable laws. The support extends to uninterrupted power supply and other infrastructure assistance on a best-effort basis. The filing of necessary applications through the online portal and an effective monitoring system for fulfilling all agreed-upon obligations outlined in the MoU will be facilitated through the Guidance Bureau.

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