Bhubaneswar: Paradeep Phosphates Limited (PPL) Thursday signed a memorandum of understanding (MoU) with the state government for an investment of Rs 4,000 crore. The investment will be made during the next five years to increase the phosphatic fertiliser manufacturing capacity in both intermediate and final products including port/jetty and infrastructure development. This will help generate 100-150 employment opportunities directly and 700-1,000 indirectly, according to a release issued by the company. The MoU was signed between Hemant Sharma, Additional Chief Secretary of Industries department and Suresh Krishnan, Managing Director & Chief Executive Officer, Paradeep Phosphates Limited. Subhendra Kumar Nayak, Special Secretary to Industries department Bijoy Kumar Biswal and Corporate Affairs Head of PPL Sudhi Ranjan Mishra were present during the event. The strategic investment will increase production capacity, reduce environmental impact, and contribute to agricultural growth, the release stated. PPL, a leading fertiliser manufacturer, aims to be self-sufficient in fertiliser production and improve crop yields, farmer prosperity and soil health. It has accelerated its production to contribute to Gross Domestic Product (GDP), it added.
Apart from its corporate social responsibility (CSR) initiatives, the company said, it uses state-of-the-art techniques to help its core customers- farmers. To further accelerate this, the company will enhance fertiliser production capacity, integrate key raw materials, and invest in renewable energy and sustainability. Its two manufacturing units in Paradeep (1.8 million tonne), and Zuarinagar, Goa (1.2 million tonne), produce a wide range of fertilisers, including DAP and various NPK grades (N-10, N-12, N-14, N-19, N-20, N-28), as well as urea. PPL caters to over 9 million farmers through 70,000 retail points across 15 states and supplies industrial products such as gypsum, HFSA, sulphuric acid, and ammonia.
