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SPIC

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Southern Petrochemical Industries Corporation Ltd., or SPIC, is an Indian company that makes petrochemicals. Its core competency is its fertilizer portfolio. It also has operations in the areas of power, oil and natural gas, pharmaceuticals, and biotechnology applications in agriculture.

The company, headquartered in Chennai, was started in 1975 as a joint venture between the M. A. Chidambaram Group and TIDCO (a part of the Government of Tamil Nadu). The Government sold its stake in 1992. The company's biggest client has traditionally been the Government of Tamil Nadu, which purchases agro-products for subsidized distribution through its Public Distribution System. The company has been in poor financial health since about 2002. Its 2006 sales amounted to INR 22 billion, with a net operating loss of INR 1.8 billion. It may currently be acquired by the Oil and Natural Gas Corporation, a public sector corporation.

Courtesy - Wikipedia
Author - Le An
Lasted updated - September 29, 2007
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