On 9th December, Chief Minister of Odisha, Shri Naveen Patnaik, performed the ground-breaking ceremony of the Rs 2200 crore Technical Ammonium Nitrate (TAN) project of Smartchem Technologies Ltd being set up at Gopalpur Industrial Park by Tata Steel Special Economic Zone Limited (TSSEZ) which is fast emerging as a preferred investment destination in India. Earlier in July this year, a new tea packaging plant of Tata Consumer Products Limited (TCPL) was inaugurated in the Park which has been set up with an investment of Rs 100 crore.
Smartchem Technologies Ltd is a 100% subsidiary of Deepak Fertilizers and Petrochemicals Limited (DFPCL), which is ranked among the top five producers of TAN in the world. STL has signed a sub-lease deed agreement with the developers of the industrial Park, Tata Steel Special Economic Zone Limited (TSSEZ), a 100% subsidiary of Tata Steel for setting up this complex that will be spread over 40.24 acres of land. The project is expected to cater around 30% of TAN demand in the country. STL will produce all variants of solid ammonium nitrate pills, including the medical grade, from the same plant.
On the occasion, Chanakya Chaudhary, Chairman, Tata Steel Special Economic Zone Ltd, said, "It is a moment of great pride for us as another valued and prestigious client of ours, Smartchem Technologies, is about to set up a Technical Ammonium Nitrate plant in Gopalpur Industrial Park. We are glad that in a very short span since its inception, Gopalpur Industrial Park is fast emerging as the preferred investment destination of India. We are eagerly looking forward to lot more investors coming forward in such key sectors, adding to the industrial progress of the region and contributing towards making India self-reliant."
Gopalpur Industrial Park is located on National Highway 16 near Berhampur and is just 2-hour drive from Bhubaneswar. With plug and play infrastructure, multi-modal logistics connectivity, ready environmental clearance and clear land title, Gopalpur Industrial park offers a host of exciting value proposition to investors.
The flexibility of setting up unit either in SEZ for Export Oriented Units, Domestic Tariff Area for the units targeting Indian market in multiple clusters like Steel & Metal downstream, Chemical, Food Processing, Electrical & Electronics Manufacturing, Textile & Apparel and Logistics makes it the ideal location both for MSME and large companies.
Currently, in addition to the tea packaging unit of TCPL, the Gopalpur Industrial Park is host to a 55,000 TPA Ferro Chrome plant by Tata Steel, a defense manufacturing unit by Anadrone Systems Private Limited, and chrome based industries by East Coast Overseas Private Limited and Odimet Resources Private Limited. TSSEZL has been engaging with other potential investors across the country and abroad and expects to firm up agreements with some of the companies shortly.
Tata Steel Special Economic Zone Limited, a 100% subsidiary of TATA Steel Ltd, is developing its flagship industrial park in Odisha known as Gopalpur Industrial Park. The company plans to develop the industrial park as the emerging manufacturing hub both for domestic and export-oriented industries. The Company would provide common Infrastructure, plug and play utility infrastructure and associated services to facilitate smooth grounding of the incoming units.
Shares of Tata Steel Limited was last trading in BSE at Rs. 1180.05 as compared to the previous close of Rs. 1176.75. The total number of shares traded during the day was 200556 in over 7288 trades.
The stock hit an intraday high of Rs. 1188.75 and intraday low of 1166.75. The net turnover during the day was Rs. 236377956.00.