Paradeep Phosphates starts production at fertilizer plants in Goa; Stock under pressure

11 Aug 2022 , 11:45 AM

Paradeep Phosphates Limited had earlier intimated about the acquisition of the fertilizer plants at Goa and associated businesses of Zuari Agro Chemicals Limited (ZACL) on slump sale basis pursuant to the Business Transfer Agreement (BTA) executed by the Company with ZACL on March 01, 2021, which has been consummated with effect from June 01, 2022.

Post the completion of the acquisition, the Urea-ammonia section of the Goa plant started production with effect from June 13, 2022.

As per the filing, the company now informed about the starting of production at the NPK-A and NPK-B trains with effect from August 10, 2022.

With this, all trains at the Goa plant of the company are now fully operational.

At around 11:46 AM, Paradeep Phosphates was trading at Rs49.55 per share lower by 0.20% on the BSE.