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Agro chems – Fertilizers, Environment, India, Sustainability

Initiative to help farmers adopt best practices in soil nutrition, climate-resilient farming

The Asian Development Bank (ADB) has announced that it would fund the farm efficiency initiative of Smartchem Technologies Limited (STL), a wholly-owned subsidiary of Deepak Fertilisers And Petrochemicals Corporation Limited (DFPCL), through a $30 million loan facility with a tenor of 5 years. This is ADB’s first agribusiness ‘Blue Loan’, and the first such blue loan in India in the agribusiness sector across institutions. The loan will be used to finance capital expenditure as well as research and development of enhanced-efficiency speciality fertilisers.

STL was chosen as a suitable candidate for Asian Development Bank (ADB) support because of its leading market position in the enhanced efficiency specialised fertilisers (EESF) segment, with advanced technical capability and satisfactory financial performance. Growth potential from the enhancement of fertiliser production capacity to provide quality inputs.

Actions to encourage the application of EESFs, which will support the sustainable transformation of agriculture in India while improving its resilience to climate change.

ADB has also given approval for a technical assistance grant of $5,00,000 for building capacity for Soil Nutrition Management among Smallholder Farmers and Climate Resilience in India. The said grant is in addition to financing of $30 Million (“Blue loan”).

Enhanced-efficiency speciality fertilisers have shown increased output while reducing the need for fertiliser application rate and also reduces environmental impact and supports Nutrient uptake efficiencies and thus delivers better productivity leading to improved food security.

Initiative to help farmers adopt best practices

Agro chems – Fertilizers, Agrotech, India, Sustainability

To enhance crop and soil specific fertiliser systems and improvements to nutrient use efficiency, balanced soil nutrition

The Asian Development Bank (ADB) has signed a $30 million loan with Smartchem Technologies Limited (STL) to finance capital expenditure and research and development of enhanced-efficiency specialty fertilisers as well as investments to promote energy efficiency, health, and safety.

In addition, an accompanying technical assistance grant will focus on improving the climate resilience of up to 4,000 smallholder farmers through building their soil management and financial literacy skills.

“ADB’s financial assistance will help us to further improve our enhanced efficiency specialty fertiliser business including applied R&D and grass-root farmer training initiatives. It is encouraging to have our efforts towards crop and soil specific fertiliser systems and improvements to nutrient use efficiency and balanced soil nutrition, validated by international partners like ADB,” said STL Chairman and Managing Director S C Mehta. “We will continue to strive to deliver our vision of raising the yield and quality of Indian agriculture to the global best. We look forward to growing this partnership with ADB.”  

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

To enhance crop and soil specific fertiliser

Agro chems – Fertilizers

The project is expected to be completed by August 2024.

Pune-based Smartchem Technologies Limited (STL), a 100 per cent subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), a trusted chemicals and fertiliser manufacturer in India, has laid a foundation stone of its Technical Ammonium Nitrate (TAN) complex at Gopalpur Industrial Park on December 9, 2021. CM of Odisha, Naveen Patnaik laid the foundation of the project in presence of Chairman & MD of STL, Sailesh Mehta, and Dibya Shankar Mishra, Minister of Energy; Industries; Micro, Small & Medium Enterprises.

The project is being built with an investment of Rs 2,200 crore and will have a capacity of 377 KTPA. The plant has the best-in-class technology from Casale, that ensures safest plant with lowest possible emission. The project is expected to be completed by August 2024.

On project completion and commencement, Odisha will become a key source of TAN to the entire Eastern Belt where majority of Mining and Infrastructure growth is foreseen in future.  It will generate employment for 1,500 people during the project phase and 325 people during the operation phase.

Sailesh Mehta, said, “STL is partnering with Odisha to support growth in the Mining & Infrastructure Sector and this complex is the first step to accomplish our ten-year-old dream to expand operations in the Eastern Region and come closer to our end users. Technical Ammonium Nitrate is a very important raw material that will fuel the infrastructure, economy, and development of the nation. We are looking forward to reducing our dependence on imports and the Gopalpur Industrial Park’s strategic location may help us do that very quickly in the near future. Tata SEZL can attract ancillary units and become a hub for development.”

The project is expected to be completed