Matix Group Unveils Major Expansion into Industrial Chemicals

Matix Group plans to invest over Rs 2,600 crore in industrial and specialty chemicals manufacturing, including setting up Eastern India's first Iso-Propyl Alcohol (IPA) plant. The project is part of a strategic diversification plan to bolster domestic availability and support India's self-reliance initiatives.

Matix Group announced its strategic expansion into industrial and specialty chemicals with an investment exceeding Rs 2,600 crore. This includes the establishment of Eastern India's inaugural Iso-Propyl Alcohol (IPA) facility in West Bengal, marking a significant milestone for the region's chemical manufacturing industry.

Slated for commissioning by FY27, the new IPA facility will boast an annual capacity of 50,000 tonnes at the Panagarh Industrial Park. This development is set within Matix's existing infrastructure, which includes a substantial 1.27 million tonnes urea plant.

Though financing details remain undisclosed, the project aligns with the government's Atmanirbhar Bharat initiative by enhancing domestic chemical availability. Matix has partnered with AdPlus Chemicals for securing acetone supply, underscoring its commitment to growth and sustainability in emerging markets.

(With inputs from agencies.)