Matix Fertilisers and Chemicals Ltd of the Matix Group is setting up a greenfield fertilizer complex
MATIX Group is building a greenfield fertiliser complex with a capacity of 3 MTPA in Panagarh, West Bengal.
- (1888PressRelease) August 26, 2010 - Matix Fertilisers and Chemicals Ltd, the flagship company of the Matix Group is setting up a greenfield fertiliser complex with a capacity of 3 million ton per annum (mtpa). In phase 1, Matix Group will invest Rs. 5000 crore (approximately US$1.1 billion) to set up a 1.3 MTPA single stream Ammonia (2200 MT per Day) & Urea (3850 MT per day) plant with integrated facilities.
The Matix plant will be one of the world's largest single stream plants and the first with feedstock supply of Coal Bed Methane (CBM) gas exclusively. This will be sourced from the Raniganj block, near Panagarh in West Bengal. The world-class plant is being developed with strategic international partners providing technology, basic & detailed engineering, procurement, construction and commissioning support. The latest and most efficient technology from Kellogg Brown & Root (KBR), USA will be used to produce ammonia. Urea production will use technologies developed by Saipem in Italy.
"We are investing in world-class technology with world-class partners to deliver world-class products that provide benefits to millions of people. It is an opportunity for us to give back on a large scale and in a way that secures the future", said Mr. Yogendra Kanodia, Chairman, Matix Group.
The complex will house a 33 MW captive power plant, dedicated water reservoir, steam generation and other utilities. Located in Panagarh Industrial Park near Durgapur, the complex is adjacent to National Highway (NH) 2 and the Eastern Railway Network. The efficient distribution and infrastructure also includes road network and a railway siding. Waste water recycling facilities and the green belt will be located within the complex. The plant will be entirely health, safety and environment compliant. The project is due to be completed and the plant operational by 2012.
With no current capacity in the region, the plant will meet the needs of a core market - customers within a 350-km radius in the states of West Bengal, Bihar, Jharkhand and Orissa.
The management team, led by Mr. Prithviraj Dhariwal along with Mr. Chaman Gupta, and the advisory team lead by Mr. P.N Devarajan and Mr. D.K Varma, would bring a blend of technical, commercial and operational experience in commissioning and operating global-scale enterprises including fertiliser businesses.
"Matix Group will be an innovator in emerging markets. We will attract and nurture future leaders and empower our people. We will be known for our strategic vision, operational excellence and ability to execute big ideas. While seeking sustainable opportunities, we will retain a sharp focus on securing shareholder value", Mr. Nishant Kanodia, Vice-Chairman, Matix Group.
About Matix Group
The Matix Group has been established by the Kanodia family of the Datamatics Group. The Datamatics Group, established in 1975 and currently employing over 5000 people, is a multi-business information technology organisation which has pioneered innovative concepts and solutions in the IT sector. The Matix Group will diversify into high-growth sectors including manufacturing, services and infrastructure. Using state-of-the-art technology and adhering to international safety & environment norms, the Matix Group will build world-class businesses providing high quality products and services. For more information, log on to www.matixglobal.com
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