BHUBANESWAR / BERHAMPUR: New investments in Odisha despite the pandemic situation and economic slowdown have proved the confidence in the State government’s industrial policies, said Chief Minister Naveen Patnaik on Thursday, December 9, 2021.
Laying the foundation for a global-scale Technical Ammonium Nitrate (TAN) manufacturing complex at Gopalpur in Ganjam district virtually, the CM said the project is another example of the State’s continuing dominance as a premier investment destination for multiple sectors of industry.
Naveen said Smartschem Technologies Ltd (STL) is one of India’s leading manufacturers of NPK and specialty fertilisers. The project will help in the growth and development of the region. He assured complete facilitation support to the project from the State government.
Joining from Pune, Chairman and Managing Director of STL Sailesh Chimanlal Mehta said Odisha’s consistent push for industries and the transformation initiative through 5T framework has enhanced the company’s confidence in the State government.
“TAN is an important raw material that will fuel the infrastructure, economy and development of the nation. We look forward to reduce our dependence on imports and Gopalpur Industrial Park’s strategic location will help us do that quickly in the near future,” Mehta said.
The project to be set up with an investment of Rs 2,200 crore with a capacity of 377 KTPA will create employment opportunities for over 1,700 local people. Boasting of the best-in-class technology from Casale which will ensure that it is the safest plant with lowest possible emission, the project is expected to be completed by August 2024. Around 50 per cent of the engineering work has already been completed and the piling work will begin from January, 2022.
A 100 per cent subsidiary of Deepak Fertilisers, STL is the 5th largest producer of TAN. It will provide a huge boost to various sectors like agriculture, industry and mining in the State.