Coromandel Fertilisers Ltd., a leading manufacturer of a wide range of fertilisers and pesticides, has signed a Joint Venture agreement on Thursday with Soquimich European Holdings BV, Netherlands, a subsidiary of SQM, Chile.

Under the arrangement, the JV will set up 15000 MT Water Soluble Fertilizers (NPK Grades) plant at Kakinada at a total investment of Rs 10 crore.

A company official stated that both the companies will hold equal share in the JV.

The scrip of the company is presently trading at Rs 182, marginally down compared to its previous close.

The counter has made 52-week-high and low of Rs 200 and Rs 73 respectively.