Deepak Fertilizers Plans to Construct Nitric Acid Plant in Dahej, Gujarat

India: Deepak Fertilizers and Petrochemicals Corporation Limited (DFPCL), a Maharashtra based producer of industrial chemicals and fertilizers, has decided to invest USD82.5 million for setting up a greenfield nitric acid production plant in Dahej, Gujarat. The new facility is expected to be operational by mid of 2018. Post completion, the plant will magnify the nitric acid manufacturing capacity of Deepak Fertilizers and Petrochemicals Corporation. The new facility would address intermediates and specialty chemicals requirements of India based manufacturers. The company already has nitric acid production plant in Taloja (Maharashtra). The current nitric acid production capacity of Deepak Fertilizers is around 840,000 metric tons per annum (MTPA) and after the completion of new Dahej greenfield the plant, the production capacity of the company will reach 988,000 metric tons per annum. The new facility would focus on TAN (technical ammonium nitrate) and fertilizers manufacturers for delivering nitric acid.

TechSci Research depicts that the expansion in production capacity of nitric acid of the company would help the company in meeting the increasing nitric acid demand of its customers. The capacity expansion is a strategic decision of Deepak Fertilizers and Petrochemicals Corporation Limited (DFPCL) to address the growing demand from the consumers in India. The company offers nitric acid to manufacturer operating in nitro-aromatics, dyes, defense, agrochemicals and pharma industries.

According to the upcoming report by TechSci Research, “Global Nitric Acid Market Forecast & Opportunities, 2021”, the Global Nitric Acid Market to grow at the CAGR of about 10% during 2015-2022 and it estimated to reach approximately USD15 billion by 2022. Demand for crops and vegetables has risen remarkably in recent years, as a consequence of various macroeconomic factors such as high population growth. Increasing demand for food produce is promoting the adoption of more and better fertilizers by the farmers to meet the need and explore the rising opportunities.