Paradeep Phosphates Limited (PPL) has signed a Memorandum of Understanding (MoU) with the Government of Odisha, proposing an investment of ₹4,750 crore to develop new chemical and fertiliser facilities in the state over the coming years.
The MoU was signed during India Chem 2026 in Mumbai in the presence of Odisha Chief Minister Mohan Charan Majhi. The proposed investment includes a new chemical plant and a biofertilisers manufacturing facility, along with initiatives to improve farm productivity.
Hemant Kumar Sharma, Additional Chief Secretary, Industries, signed the MoU on behalf of the Odisha government, while N. Suresh Krishnan, Managing Director and CEO of Paradeep Phosphates, represented the company.
The signing ceremony was attended by senior Odisha government officials, along with Rajeev Nambiar, Joint Managing Director; Bijoy Kumar Biswal, Chief Financial Officer; and Bibhudatta Panigrahi, Head of Corporate Affairs at Paradeep Phosphates.
The investment marks a significant step towards strengthening Odisha’s position as a major destination for investments in the chemicals and fertilizers 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.
The investment reinforces Paradeep Phosphates’ long-standing association with Odisha and its role in supporting the India’s fertilizer requirements. With its established industrial presence in the state, the company continues to contribute to the integration of manufacturing, agriculture and regional economic development.
The MoU further reflects the Government of Odisha’s commitment to strengthening manufacturing capabilities and creating an enabling environment for sustainable economic growth. Through initiatives to promote industrial development and value addition, Odisha is positioning itself to emerge as a competitive hub for chemicals, fertilizers and allied industries.
