Adventz Group’s company Paradeep Phosphates Limited charts Rs.10,000-crore expansion course

On Nov 17, 2017

The Government of Odisha has green-signalled the next phase of expansion in Adventz Group’s Paradeep Phosphates Limited (PPL) lifespan. Hon’ble Chief Minister Shri Naveen Patnaik today laid the foundation stone at Paradeep via video conferencing conducted from the CM office, with PPL, along with 15 other companies, getting a formal go-ahead and full support from the government to commence their projects.

Under the aegis of the ‘Make in Odisha’initiative, PPL committed in December 2016 to invest around Rs.9459.17 crore for the expansion of the fertiliser manufacturing facility at Paradeep seaport town which will generate around 2667 jobs. As per the proposal approved by the state government’s High-Level Clearing Authority (HLCA) in July, PPL will enhance its manufacturing capacities across its products’ range, marketed under the popular ‘Navratna’ brand and catering to almost all agricultural applications.

Dr Damodar Rout, State Minister of Agriculture & Farmers’ Empowerment, Fisheries & Animal Resources Development, Public Enterprises, and Dr Kulamani Samal, MP, Jagatsinghpur (Lok Sabha) led the State and administration dignitaries present at the high-level event at Paradeep.

Speaking about the milestone moment, Mr V. K. Sinha, COO, Paradeep Phosphates Limited, said: “Fifteen years ago Adventz Group had taken over PPL, at that time nearly sick and perpetually loss-making with a huge liability. PPL has not only emerged as a profit-making company but is now on a significant growth trajectory. PPL has been a catalyst driving development not just within Odisha but also among farmers across India. The support from the state machinery has always encouraged and enabled us to increase overall productivity and profitability. The people of Odisha have been the primary contributor as they have been most willing and cooperative stakeholders in the PPL growth story, even as we constantly invigorate the facility with innovation and technology. PPL has always been a good corporate citizen of Paradeep and contributed significantly towards the local economics and facilitated in enhancing community life, along with CSR activities.”