Nagarjuna Agrichem (NACL) has decided to set up a greenfield manufacturing facility with an outlay of about Rs 1.50 billion in the special economic zone located at Achutapuram, about 40 km from Visakhapatnam, within the petroleum, chemicals and petrochemical investment region (PCPIR).

The sources said that the proposed plant is expected to be started in 18 months from the commencement of the project.

The sources further added that this will be an important addition to the industrial cluster coming up within the PCPIR.

Stock of Nagarjuna Agrichem settled the day in green at Rs 137, up 0.40% on Bombay Stock Exchange (BSE). The total volume of shares traded on BSE was 24,842.