The Board of Directors of Madhya Bharat Agro products Ltd (MBAPL) has given in-principal approval for setting up a new 1000 TPD DAP/NPK Fertilizers with Phosphoric acid Plant.
The decision was made during a meeting held on March 14, 2023, which was concluded in a brief time of 45 minutes.
According to company officials, the project is expected to cost around Rs 4.5 billion and will be set up in either Gujarat or Maharashtra. The plant is expected to provide a significant boost to the company’s current operations, given the positive response they have received for their DAP/NPK fertilizer plants with the backward integration of a phosphoric acid plant.
The company is currently working on the financial and other plans for the project, which will be finalized soon.