|
The project located at Tata Steel Industrial Park, Gopalpur is being built with an investment of Rs 2,200 crore and will have a capacity of 377 kilo tonne per annum. The project is expected to be completed by August 2024, 50% of the engineering work is already completed and the piling work will begin from January 2022. It is strategically located near the major mining hubs and the Gopalpur port to capture domestic demands and tap into export opportunities, the company said in a press release.
Deepak Fertilisers further said that the project is a part of company's initiative to be closer to the end user and add maximum value to them, by being a solution provider and reduce the supply deficit and reduce the resultant import substitution of more than Rs 4500 crore.
On project completion and commencement, Odisha will become a key source of technical ammonium nitrate to the entire Eastern Belt. It will generate employment for 1,500 people during the project phase and 325 people during the operation phase.
Sailesh Mehta, chairman & MD of Smartchem Technologies said, “Technical Ammonium Nitrate is a very important raw material that will fuel the infrastructure, economy, and development of the nation. We are looking forward to reducing our dependence on imports and the Gopalpur Industrial Park's strategic location may help us do that very quicky in the near future. Tata SEZL can attract ancillary units and become a hub for development.”
Deepak Fertilisers and Petrochemicals Corporation is a manufacturer of fertilizers and chemicals. On a consolidated basis, the company reported a 14.5% rise in net profit to Rs 90.82 crore on a 27.7% increase in net sales to Rs 1,793 crore in Q2 FY22 over Q2 FY21.
|