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TMI BlogMatix Group to invest over Rs 2,600cr in chemicals manufacturing in BengalX X X X Extracts X X X X X X X X Extracts X X X X ..... Matix Group to invest over Rs 2,600cr in chemicals manufacturing in Bengal X X X X Extracts X X X X X X X X Extracts X X X X ..... t, with an annual capacity of 50,000 tonnes, will come up within the company's existing facility at Panagarh Industrial Park, which also houses a 1.27 million tonnes per annum urea plant. The new facility is expected to be commissioned in FY27, the company said in a statement. The company did not provide project financing details. IPA is a key input used in pharmaceuticals and personal care pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oducts. The project will bolster domestic availability of the chemical and support the government's Atmanirbhar Bharat initiative, Matix said. The group's chemicals diversification plan is based on a study conducted in collaboration with consultancy firm McKinsey. To secure the supply of acetone, the key raw material for IPA, Matix has signed a memorandum of understanding with AdPlus Chemicals a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Polymers Pvt Ltd, a subsidiary of Haldia Petrochemicals Ltd. "We have successfully demonstrated our ability to build and operate large manufacturing plants and emerged as Eastern India's largest single-stream fertiliser company," said Nishant Kanodia, Chairman, Matix Fertilisers and Chemicals Ltd. "The foray into industrial and speciality chemicals aims to leverage our infrastructure and oper ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ational expertise to meet rising domestic demand. This expansion aligns with our long-term vision of responsible diversification beyond fertilisers into high-growth sectors," he added.
Matix Fertilisers and Chemicals holds nearly 20 per cent market share in Eastern India's fertiliser market. PTI BSM NN X X X X Extracts X X X X X X X X Extracts X X X X
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