Smartchem Technologies Limited (STL), a 100% subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), a trusted chemicals and fertiliser manufacturer in India, performs ground-breaking ceremony and foundation stone laying of its Technical Ammonium Nitrate (TAN) complex at Gopalpur Industrial Park on 9th December 2021. Honourable Chief Minister of Odisha, Shri Naveen Patnaik laid the foundation of the project in presence of Chairman & Managing Director of Smartchem Technologies Limited, Mr. Sailesh Mehta, and Mr. Dibya Shankar Mishra, Minister of Energy; Industries; Micro, Small & Medium Enterprises.
The project at Tata Steel Industrial Park, Gopalpur is being built with an investment of Rs 2,200 crore and will have a capacity of 377 KTPA. The plant has the best-in-class technology from Casale, that will ensure that it is the safest plant with lowest possible emission. The project is expected to be completed by August 2024, 50% of the engineering work is already completed and the piling work will begin from January 2022. It is strategically located near the major mining hubs and the Gopalpur port to capture domestic demands and tap into export opportunities.
Technical Ammonium Nitrate, being an international commodity, this project will put Odisha on the map for international recognition. On project completion and commencement, Odisha will become a key source of TAN to the entire Eastern Belt where majority of Mining and Infrastructure growth is foreseen in future. It will generate employment for 1,500 people during the project phase and 325 people during the operation phase. It also holds the possibility of attracting investment in ancillary units like explosive manufacturers, manufacturers of LDPE/HDPE bags and liners, among others. It is part of DFPCL's initiative to be closer to the end user and add maximum value to them, by being a solution provider and reduce the supply deficit and reduce the resultant import substitution of more than Rs. 4500 crores.
Additionally, the project will contribute Rs 3,000 crore in GST and Rs 1,100 crore in Income Tax to the exchequer over 10 years. It ensures maximum recycle and reuse of effluents and use of freshwater is optimized. The emission and discharge from the plant will be one of the lowest and it features advanced NOx/N2O abatement technologies. The plant is expected to generate 4.5 MW power from the waste heat steam.
Smartchem Technologies Limited, Chairman & Managing Director Mr. Sailesh Mehta, said, "STL is partnering Odisha to support growth in the Mining & Infrastructure Sector and this complex is the first step to accomplish our ten-year-old dream to expand operations in the Eastern Region and come closer to our end users. Technical Ammonium Nitrate is a very important raw material that will fuel the infrastructure, economy, and development of the nation. We are looking forward to reducing our dependence on imports and the Gopalpur Industrial Park's strategic location may help us do that very quicky in the near future. Tata SEZL can attract ancillary units and become a hub for development."
The welcome address for the event was delivered by Mr. Hemant Sharma, Principal Secretary, Industries department. Mr Chandra Sekhar Sahu, Hon'ble MP, Berhampur and Mr Dibya Shankar Mishra, Hon'ble Minister Industries, Energy & MS&ME have also addressed the gathering. The vote of thanks was rendered by Mr. Vijay Amruta Kulange, Collector and District Magistrate, Ganjam.
Shares of Deepak Fertilizers and Petrochemicals Corporation Limited was last trading in BSE at Rs. 367.80 as compared to the previous close of Rs. 370.75. The total number of shares traded during the day was 9422 in over 511 trades.
The stock hit an intraday high of Rs. 373.70 and intraday low of 364.95. The net turnover during the day was Rs. 3485383.00.