Paradeep Phosphates Ltd (PPL), a leading fertilizer company with an annual turnover of Rs 55 billion has lined up Rs 100 billion expansion plan at its premises in Paradip.
Its investment plan 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.
“This (investment) will enhance our capacity of producing DAP from 1.2 million tonnes (mt) 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”, said Ranjit Singh Chugh, chief operating officer of PPL at the recently concluded Make in Odisha conclave.
PPL was set up in 1992 as a public sector unit by the Government of India in collaboration with the Nauru government. Following continuous losses, the government divested its stake in the company in 2002. At present, the Government of India holds 19.55 per cent of shares while 80.45 per cent shares are held by Zuari Maroc Phosphates pvt Ltd , a joint venture between the Adventz group company, Zuari Agro Chemicals Ltd and Maroc Phosphore S.A.
“PPL has now established itself a continuous profit making organization. Today PPL is debt free and enjoys the confidence of all stakeholders”, he added.
The effort of management and employees has made PPL truly the “Pride of East’. With continuous profit of more than Rs one billion has made it a trust-worthy organisation. PPL’s external credit rating has been upgraded to ‘A’, he stated.
The company has more than 900 regular employee and around 3,500 contractual employees working in its plant.