Meghnagar (Madhya Pradesh): Ostwal Group of Industries has submitted its proposal to the state government for investment of Rs 5,000 Crore in fertilizer complex at the recently held Global Investors Summit-2023, in Indore.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan had a one-to-one discussion with Ostwal Group managing director Praveen Ostwal. Besides, In the previously held GIS, the company MD had promised for investment of Rs 500 crore for setting up a DAP factory in Jhabua district.
Krishana Phoschem Limited, a subsidiary of Ostwal phoschem Ltd. and a unit of the Ostwal group, with production capacity of 600 TPD is currently operating in Meghnagar, Jhabua district. The factory at Jhabua has helped to reduce the dependence of state farmers on other states for SSP and DAP and also provide employment to the locals, tribal dominated people.
The company has expanded and diversified its business and provided employment for about 5,000 people. The company excels in the production of Rock Phosphate (RP), Single Super Phosphate (SSP), majorly required in the agricultural industry. Also, KPL is also working towards a better future by reducing foreign dependency. The fertiliser plant sourced its raw material from rock phosphate mines located in Meghnagar.