Deepak Fertilisers Revises Technical Ammonium Nitrate Project Cost to 22,675 Crores

Deepak Fertilisers & Petrochemicals Corporation Ltd. has announced a revision in the estimated cost of the Technical Ammonium Nitrate (TAN) Project in Gopalpur. The new estimated cost is 22,675 Crores, a significant decrease from the earlier estimated project cost of 32,223 Crores in Nov’20. The revision is primarily due to geopolitical issues, increased material and manpower costs, currency variation, and additional investments in safety, efficiency, reliability, sustainability, and export compliant quality. The Company believes that the Project’s financial metrics remain robust and the Project IRR continues to be above their internal threshold benchmarks. The Project is expected to generate significant long-term value for the stakeholders.