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Home INDIA TODAY Matix group to set up ₹1,250-cr factory in West Bengal, India

Matix group to set up ₹1,250-cr factory in West Bengal, India

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…to create 1500 jobs

An Indian company, Dhunseri Business Group has opened a fertilizer factory in the Panagarh industrial esate of Burdwan in the Indian State West Bengal.

The Matix Group’s flagship investment is a 3 million ton per annum (MTPA) fertilizer plant in West Bengal in two phases.  

In Phase 1, Matix has set up a 1.3 MTPA single stream Ammonia Urea plant with integrated facilities. The plant has been commissioned and tested, and was scheduled to start commercial production during Quarter Ending June 2021.

In that Panagarh, the group is setting up a factory to make packets of various consumer goods such as tea or food (poly-film) on the land previously acquired by the State Industrial Development Corporation for industry.  

West Bengal Chief Minister Mamata Banerjee laid the foundation stone of the factory on Wednesday. 

The Daily Vendor Newspaper learnt that Matrix group had said it would invest Rupees 1,250 crore in three phases. In addition to petrochemical, tea and other businesses, the new business has set an overall business target of Rupees 10,000 crore by 2025-26.

Our source said Matrix Group will be investing Rupees 450 crore in the Panagarh factory in the first phase. The first phase of commercial production will be launched by March 2023. The second phase of production will start in 2024-25 and the last phase in 2025-26. 

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According to Matix, 500 jobs will be created directly and 1000 jobs will be created indirectly. 200 people will get job opportunities in the first phase. Once the factory is completed, the target is to increase the annual turnover to  Rupees 1,500 crore. 

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An insider said that if natural gas is supplied to the state through the GAIL pipeline, the factory will be able to use that gas as fuel as well as coal. 

According to sources, the state government’s corporation acquired about 1,500 acres of land in Panagarh to build the industrial zone  after receiving a proposal from Matix to invest. 

The Matrix Limited was given 36 acres of land in the industrial taluk of the corporation earlier this year. The upcoming  factory also wants to export 20% -25% of its products in the near future. 

West Bengal Chief Minister Mamata Banerjee, who laid the foundation stone for the plant on Wednesday said, the State government plans a data centre policy and will enable faster clearances and approvals to investing companies.

The State is eyeing ₹20,000-crore investment in the data centre segment with 400 MW of capacities. Also on the anvil is an ethanol production policy.

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