Business Daily from THE HINDU group of publications
Wednesday, Jul 19, 2006
Business Daily from THE HINDU group of publications Wednesday, Jul 19, 2006 |
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Corporate
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New Projects Web Extras - Fertilisers Deepak Fertilisers to set up ammonium nitrate unit in Orissa Our Bureau
Pune , July 18 The greenfield integrated complex for nitric acid and ammonium nitrate of the Pune-based Deepak Fertilisers and Petrochemicals Corporation (DFPCL) would be set up in Paradip in Orissa. Talking to presspersons after the annual general meeting, Mr S.C. Mehta, Vice-Chairman and Managing Director, DFPCL, said the land acquisition is in process and the company is looking at about 50 acres of land for setting up the plant. The plant would have a production capacity of three lakh tonnes per annum. He said of this, about one lakh tonnes would be set aside for exports and would cater to the South-East Asian market. DFPCL has already a drilled ammonium nitrate facility at Taloja near Mumbai with a capacity of 90,000 tonnes. The company's 100 per cent subsidiary Smartchem Technologies also has two plants with a total capacity of 50,000 tonnes in Andhra Pradesh and Gujarat.
Net profit up 9.6 pc
Mr Mehta, addressing the shareholders, said net profit for the first quarter of the current year was Rs 24.79 crore against Rs 22.62 crore for the corresponding period last year, an increase of 9.6 per cent. Net sales stood at Rs 166.67 crore during the first quarter of the current fiscal compared to Rs 138.27 crore, increase of 20.6 per cent.
Mr Mehta said considering the growing requirements of ammonia and also the large capacities coming up in Iran, Qatar and Saudi Arabia, DFPCL is setting up an ammonia storage tank of 15,000 tonnes (annual throughput more than one lakh tonnes) at JNPT.
The investment would be Rs 90 crore and would be operational within 16 months from now, he said. "This would be a second source of ammonia since a major portion of the existing plants remain dependent on ammonia,'' he added.
The first source of raw material is gas and with the Dahej-Uran pipeline expected to commence operations in the first half of the calendar year, he said this would considerably improve the availability offered stock for the Taloja operations. He pointed out that about 30-35per cent of the potential capacity was untapped due to the lack of resources, gas and ammonia.
Mr Mehta said the IsoPropyl Alcohol (IPA) plant of the company would commence its production by end of July. An investment of Rs 150 crore is being utilised and it has an installed capacity of 70,000 tonnes of IPA per year and would meet the requirements in pharmaceuticals, agrochemicals and speciality chemicals.
This project is expected to increase the company's turnover by about Rs 200 crore by the end of the first full year of production, he said.
Agri services, solutions
Commenting on the agribusiness of the company, Mr Mehta said as a pilot project, it has set up two centres in Maharashtra which aims to provide total agri services and solutions through water, soil, and plant testing facilities and crop nutritional management. Focus would be on the fruit and vegetable segment and initial crops selected for this include potato, tomato and grapes.
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