Mumbai, Oct 24: Paradeep Phosphates Limited (PPL), one of India’s leading fertiliser manufacturers, has signed a Memorandum of Understanding (MoU) with the Odisha government, expressing its intent to invest ₹4,750 crore in developing new chemical and fertiliser facilities in the state over the coming years.

The MoU was signed on the sidelines of India Chem 2026 in Mumbai in the presence of Odisha Chief Minister Mohan Charan Majhi. The proposed investment will support the establishment of a new chemical plant and a biofertiliser manufacturing facility, alongside initiatives aimed at improving farm productivity.

The agreement was signed by Hemant Kumar Sharma, Additional Chief Secretary, Industries, on behalf of the state government, and N. Suresh Krishnan, Managing Director and Chief Executive Officer of PPL, on behalf of the company.

The proposed investment is expected to strengthen Odisha’s chemicals and fertilisers manufacturing ecosystem and generate direct and indirect employment opportunities across the value chain.

The investment also builds on PPL’s established industrial presence in Odisha, where the company plays a role in meeting India’s fertiliser requirements. The proposed expansion is expected to further strengthen the link between industrial manufacturing and agricultural development in the state.

The agreement comes as the Odisha government seeks to attract fresh investments, expand manufacturing capacity and position the state as a competitive destination for chemicals, fertilisers and allied industries.