Deepak Fertilisers invests $788 million capacity expansion

Deepak Fertilisers invests $788 million for capacity expansion

6:56 AM, 2nd June 2012
Deepak Fertilisers invests $788 million for capacity expansion

MUMBAI/PUNE, INDIA: Deepak Fertilisers and Petrochemicals Co Ltd (DFPCL) announced a project to double the capacity at its integrated fertiliser complex at Taloja, Maharashtra. The company proposes to invest around Rs 360 crores ($684 million) in the proposed project that will enhance the capacity of its NPK grades complex fertilisers from the current 2,29,000 metric tonne per annum to 6,00,000 metric tonne per annum.

The company also announced a Greenfield Bentonite Sulphur project to be set up at a cost of Rs 55 crores ($104 million) near Panipat, Haryana. Both projects are expected to be completed in a 30-months timeframe from commencement. The primary objective of the NPK capacity augmentation exercise is to enhance the company’s product grades from single grade prilled 24:24:0 nitro phosphate (NP) fertilisers to multi grade NPK granulated fertilisers. This project will also help considerably enhance soil and crop productivity in the region and improve overall soil health. The Bentonite Sulphur project will help compensate the widespread micronutrient deficiency reported in Indian soils.

“In our overall analysis of the agricultural sector we’ve assessed a strong demand for increased availability of NPK grades. Given the growing concern over India’s declining fertiliser on 18 May 2012 response ratio and the urgent need for balanced fertiliser use, we have decided to expand and more than double our NPK capacity. We believe this project will significantly benefit farmers in western India and also aid us in significantly enhancing our market share in fertilisers and gain increased competitive advantage,” said Sailesh C Mehta, Vice Chairman and Managing Director, DFPCL.

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