Pondy Oxides & Chemicals Limited (POCL) has signed Memorandum of Understanding (MoU) with the Government of Tamil Nadu for investment promotion and facilitation, to set up state of the art recycling and manufacturing plants for non-ferrous metals, lithium ion batteries, paper, plastics, and rubber contributing to sustainability and circular economy to the state of Tamil Nadu.

The company proposes to invest Rs. 300 crores to Rs. 500 crores in the proposed projects in the next 5 years in Tamil Nadu.

The company proposes to employ 1,200 people (direct and indirect employment).

The Government of Tamil Nadu has agreed to provide facilitation and support to the company in the form of necessary infrastructural support and regulatory facilitation subject to applicable laws including uninterrupted power supply & other infrastructure support on best-effort basis, filing of the necessary applications through the online portal and a system for effective monitoring of fulfilment of all obligations as agreed to in the MoU.