Smartchem Technologies Ltd. (STL), a 100% subsidiary of Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL), said it would invest ₹ 22 billion to set up a technical ammonium nitrate (TAN) complex at Gopalpur Industrial Park in Odisha.
The ground-breaking and foundation-laying ceremony was held on Thursday.
The project is located at Tata Steel Industrial Park, Gopalpur, Odisha state and will have a capacity of 377,000 tonnes per annum.
The project is expected to be completed by August 2024.
The plant will be located near the major mining hubs and the Gopalpur port to capture domestic demands and tap into export opportunities, the company said.
With technical ammonium nitrate being an international commodity, this project will put Odisha on the map for international recognition, the company said.
On completion and commencement of the project, Odisha would become a key source of technical ammonium nitrate to the entire Eastern belt where majority of mining and infrastructure growth is foreseen in future, it added.
“This complex is the first step to accomplish our 10-year-old dream to expand operations in the Eastern Region and come closer to our end users,” said Smartchem Technologies’ CMD Sailesh Mehta.
“Technical ammonium nitrate is a very important raw material that will fuel the infrastructure, economy, and development of the nation. We are looking forward to reducing our dependence on imports and the Gopalpur Industrial Park’s strategic location may help us do that very quicky in the near future,” he said.
“Tata SEZL can attract ancillary units and become a hub for development,” he added.