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Paradeep Phosphates Limited signs MoU with Government of Odisha

04 Feb '25
2 min read
Paradeep Phosphates Limited signs MoU with Government of Odisha
Pic: Paradeep Phosphates Limited

Insights

  • Paradeep Phosphates Ltd (PPL) will invest Rs 4,000 Cr (~$440 million) over five years to expand phosphatic fertiliser production, enhance infrastructure, and integrate key raw materials.
  • This will create 100-150 direct and 700-1000 indirect jobs while boosting agricultural growth and sustainability.
  • An MoU was signed between Odisha govt officials and PPL leadership to formalise the initiative.

Paradeep Phosphate Ltd.(PPL), a leading fertilizer manufacturer, aims to be self-sufficient in Fertiliser Production and to improve crop yields, farmer prosperity and soil health. It has accelerated its produce to contribute to GDP, adds to the society with its corporate social responsibility and uses state-of-the-art techniques to help its core customers i.e. Farmers. To achieve this, the Company will enhance fertilizer production capacity, integrate key raw materials, and invest in renewable energy and sustainability.

PPL will invest Rs 4,000 Cr(~$440 million)  over five years to increase the Phosphatic Fertiliser Manufacturing capacity in both intermediate and final products including Port/Jetty and infrastructure development. This will escalate the employment capacity directly between 100-150 and indirectly between 700-1000. Alongside, this strategic investment will increase production capacity, reduce environmental impact, and contribute to agricultural growth.

The MOU was signed, between Mr. Hemant Sharma, IAS, Addl. Chief Secretary, Department of Industries, Govt of Odisha and Mr. Suresh Krishnan, MD & CEO, Paradeep Phosphates Limited. Mr. Subhendra Kumar Nayak, Special Secretary, Department of Industries, Mr. Bijoy Kumar Biswal, Chief Financial Officer, PPL and Mr. Sudhi Ranjan Mishra, Head-Corporate Affairs, PPL were Present during the event.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (HU)

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