As the first phase of its Panagarh urea plant is ready for commissioning, Matix Fertilizers plans to invest another Rs 5,000 crore on second phase of the project.
“The first phase of company’s Greenfield fertiliser complex at Panagarh (West Bengal) is ready to be commissioned. The capacity of plant is 1.3 million tonnes per annum, and about Rs 6,000 crore has been invested on it,” MATIX Fertilizers and Chemicals Ltd Managing Director P R Dhariwal said.
“The company has also applied for the second phase of plant under the new urea investment policy. We are planning to set up the same capacity (1.3 million tonnes per annum) plant and it will require investment of about Rs 5,000 crore,” he said.
Dhariwal added that the company has also set up captive power plant with capacity of 54 MW.