Pondy Oxides And Chemicals Limited has entered into a Memorandum of Understanding (MoU) with Tamil Nadu (TN) Guidance, the nodal agency of Government of Tamil Nadu (GoTN) for Investment Promotion and facilitation, to set up 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 same has been signed and exchanged on 8th January 2024 in Tamil Nadu Global Investors Meet 2024, Chennai. Significant terms and conditions of the agreement in brief: The Company proposes to invest INR 3,000 million to INR 5,000 million in the Proposed Projects in the next 5 years in the State of Tamil Nadu and further proposes to employ 1200 (One Thousand Two Hundred) people (Direct and Indirect Employment).

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 through Guidance Bureau.