The Business Bytes
THEBUSINESSBYTES BUREAU
BHUBANESWAR, JANUARY 30, 2025
Paradeep Phosphates Limited (PPL), a leading fertilizer manufacturer, has signed a Memorandum of Understanding (MoU) with the Government of Odisha to invest Rs. 4,000 crore over the next five years. This strategic initiative aims to enhance phosphatic fertilizer manufacturing capacity, integrate key raw materials, and develop infrastructure, including port and jetty facilities.
The MoU was signed by Hemant Sharma, Additional Chief Secretary, Department of Industries, Government of Odisha, and Suresh Krishnan, MD & CEO of Paradeep Phosphates Limited, signing the agreement. Also present were Subhendra Kumar Nayak, Special Secretary, Department of Industries, Bijoy Kumar Biswal, Chief Financial Officer, PPL; and Sudhi Ranjan Mishra, Head-Corporate Affairs, PPL.
With this investment, PPL aims to become self-sufficient in fertilizer production, improve crop yields, support farmer prosperity, and enhance soil health. The expansion will directly generate 100-150 jobs and create indirect employment opportunities for 700-1,000 individuals. This apart, the initiative will contribute significantly to GDP growth, align with sustainability goals through renewable energy investments, and reinforce the company’s corporate social responsibility efforts.
This partnership underscores PPL’s commitment to strengthening India’s agricultural sector while advancing sustainable and efficient production practices. The investment will not only increase production capacity but also minimize environmental impact and support the long-term growth of the farming community.
