Pune-based Deepak Fertilisers & Petrochemicals Corporation plans to invest Rs 80-100 crore to set up a plant for the manufacture of customised fertilisers in the next 18-24 months, a top company executive has said.
"We are upbeat on the customised fertilisers segment and plan to set up a plant to manufacture them, most likely in Nashik.
The investment here should be in the range of Rs 80-100 crore," Deepak Fertilisers & Petrochemicals Corporation (DFPCL) Vice-Chairman and Managing Director Sailesh C Mehta told PTI.
The facility will have a capacity of around 1,30,000 tonnes per annum (tpa), he said, adding, "We are currently fine-tuning our plans and the business model will be finalised soon."
The chemicals-maker feels Nashik, in North Maharashtra, about 200 from here, is the ideal choice for the plant because of its proximity to the market, Mehta said.
The customised fertilisers will be primarily targeted at the horticulture sector and will be beneficial for cultivation of fruits such as pomegranate and large volume crops like sugarcane and cotton, he said.
They will help farmers increase their yield and income, as the fertilisers will be customised to the needs of the soil.
"The actual value-added impact will be very good," Mehta said.
While giving a timeframe of 18-24 months for setting up the unit, Mehta said it was most likely that the plant will be completed closer to the lower-end of the time-band.