Mumbai: In a major boost to Odisha’s industrial growth, Paradeep Phosphates Limited (PPL) has signed a Memorandum of Understanding with the government, intending to investment Rs 4,750 crore for development of new chemical and fertiliser facilities in the state in coming years.
The agreement was finalised during an investors meet held on the sidelines of India Chem 2026 in Mumbai, with Odisha Chief Minister Mohan Majhi in attendance. he proposed investment will support establishment of a new chemical plant and a bio-fertilisers manufacturing facility, alongside initiatives aimed at enhancing farm productivity.
The MoU was formally executed by state Industries secretary Hemant Kumar Sharma and Managing Director and CEO of Paradeep Phosphates Limited N Suresh Krishnan.
This major investment aims to solidify Odisha’s status as a leading destination for chemical and fertilizer sector investments while generating substantial direct and indirect employment across the regional supply chain. The project deepens Paradeep Phosphates’ established ties with the state, supporting domestic fertilizer production and regional economic development. Furthermore, the initiative aligns with the Odisha government’s broader strategy to enhance local manufacturing capabilities and foster a competitive, sustainable hub for allied industries.
According to an official release, the investment aim to solidify Odisha’s status as a leading destination for investments in the chemicals and fertilisers sector. It is also expected to support the expansion of the state’s industrial ecosystem and generate direct and indirect employment across the value chain.
