Matix Fertilizers plans to invest Rs 5,000 crore in Phase-II of the Panagarh urea project.
Phase-I of the company's greenfield fertilizer complex at Panagarh, in West Bengal, is ready to be commissioned. The plant has a capacity of 1.3 million tpa, and about Rs 6,000 crore has been invested in it.
The company has applied for Phase-II of the plant under the new urea investment policy. It will have the same capacity, i.e. 1.3 million tpa and will require an investment of about Rs 5,000 crore.
Matix Fertilizers is planning to use coal bed methane (CBM) gas as feedstock which will be sourced from Essar Oil's Raniganj block. For this, a dedicated pipeline of 30 km has already been set up. The company has also installed a captive power plant with a capacity of 54 MW.
More Project Info:
Ammonia-Urea Complex (Panagarh)
Urea (Panagarh) Project [Phase-II]