Paradeep Phosphates Ltd (PPL) has lined up Rs 100 billion expansion plan at its premises in Paradip.
The investment plan by the leading fertiliser company with an annual turnover of Rs 55 billion includes expansion of DAP (Diammonium phosphate) capacity and setting up of facilities for GSSP (granulated single super phosphate), ammonia, urea fertiliser, nitric acid, ammonium nitrate, aluminium fluoride and coal handling in phases. The expansion plan will generate employment for around 2500 people.
Speaking at the recently concluded Make in Odisha conclave, Ranjit Singh Chugh, chief operating officer of PPL, said, “This investment will enhance our capacity of producing DAP from 1.2 million tonnes to 1.7 million tonnes within two years. We will establish another integrated plant at the same premises, same location with a production capacity of 0.8 million tonnes. The ground breaking ceremony for this already been done on November 16, 2017.”
Set up as a public sector unit by the Government of India in collaboration with the Nauru government in 1992, PPL has now established itself a continuous profit making organization. According to Singh, “Today PPL is debt free and enjoys the confidence of all stakeholders.”
Stating that the effort of management and employees has made PPL truly the ‘Pride of East, he said that with continuous profit of more than Rs one billion they have made it a trust-worthy organisation.
Image Credit : paradeepphosphates.com