Bhubaneswar: Paradeep Phosphates Limited (PPL), one of India’s leading fertiliser manufacturers, has signed a Memorandum of Understanding (MoU) with the Odisha government, proposing to invest Rs 4,750 crore in new chemical and fertiliser facilities in the state over the coming years.
The MoU was signed during India Chem 2026 in Mumbai in the presence of Odisha Chief Minister Mohan Charan Majhi. The proposed investment will support the establishment of a new chemical plant and a bio-fertilisers manufacturing facility, along with initiatives aimed at enhancing farm productivity, PPL said in a press release.
Hemant Kumar Sharma, Additional Chief Secretary, Industries, signed the MoU on behalf of the Odisha government, while N. Suresh Krishnan, Managing Director and CEO of Paradeep Phosphates Limited, signed on behalf of the company.
The signing ceremony was attended by Majhi and senior Odisha government officials, along with Rajeev Nambiar, Joint Managing Director of PPL; Bijoy Kumar Biswal, Chief Financial Officer; and Bibhudatta Panigrahi, Head of Corporate Affairs.
The proposed investment marks a significant step towards strengthening Odisha’s position as a destination for investment in the chemicals and fertilisers sector. It is also expected to expand the state’s industrial ecosystem and generate direct and indirect employment across the value chain.
The investment reinforces Paradeep Phosphates’ long-standing association with Odisha and its contribution to meeting India’s fertiliser requirements. With an established industrial presence in the state, the company continues to support the integration of manufacturing, agriculture and regional economic development.
The MoU also reflects the Odisha government’s commitment to strengthening manufacturing capabilities and creating an enabling environment for sustainable economic growth. Through initiatives to promote industrial development and value addition, the state aims to position itself as a competitive hub for chemicals, fertilisers and allied industries.
