Announcement Details
Date: 23rd October, 2026
Investment Details
Paradeep Phosphates Limited has signed a Memorandum of Understanding (MoU) with the Government of Odisha for a proposed investment of ₹4,750 crores. The investment is intended for the development of new chemical and fertilizer facilities in Odisha state in the coming years.
Project Scope
The investment will support:
- Establishment of a new chemical plant
- Development of a bio-fertilizers manufacturing facility
- Initiatives aimed at enhancing farm productivity
Signing Event Details
The MoU was signed during an Investors meet by Odisha Government on the sidelines of India Chem 2026 in Mumbai. The signing ceremony took place in the presence of Shri Mohan Charan Majhi, Chief Minister of Odisha.
Witnesses Present
Senior government officials of Odisha and company representatives including:
- Mr. Rajeev Nambiar, Joint Managing Director
- Mr. Bijoy Kumar Biswal, CFO
- Mr. Bibhudatta Panigrahi, Head-Corporate Affairs
Strategic Impact
- Strengthens Odisha's position as a major destination for investments in chemicals and fertilizers sector
- Supports expansion of the state's industrial ecosystem
- Expected to generate direct and indirect employment across the value chain
- Reinforces company's long-standing association with Odisha
- Contributes to integration of manufacturing, agriculture and regional economic development
Government Perspective
The MoU reflects the Government of Odisha's commitment to:
- Strengthening manufacturing capabilities
- Creating an enabling environment for sustainable economic growth
- Promoting industrial development and value addition
- Positioning Odisha as a competitive hub for chemicals, fertilizers and allied industries
Company Background
Paradeep Phosphates Limited is described as one of India's leading fertilizer manufacturers and a key contributor to Odisha's industrial landscape, with an established industrial presence in the state.