Matix Doubles Down: ₹2,600 Crore Chemicals Push

Matix Fertilisers & Chemicals, led by Nishant Kanodia, is investing ₹2,600 crore to diversify into the industrial and speciality chemicals sector. As part of this expansion, the company will establish Eastern India’s first Iso-propyl alcohol (IPA) plant with a capacity of 50 KTPA. IPA is a key ingredient in pharmaceuticals and personal care products.

The new plant will be located within Matix’s existing complex at Panagarh Industrial Park, which also houses its 1.3-million-tonne urea facility. Scheduled for commissioning in FY2027, the project aligns with the Atmanirbhar Bharat initiative and aims to boost domestic chemical manufacturing.

To secure raw material supply, Matix has signed an MoU with AdPlus Chemicals and Polymers, a subsidiary of Haldia Petrochemicals, ensuring a steady domestic source of Acetone—essential for IPA production.

News by Rahul Yelligetti.