Platinum’s Major Shareholder Announces New Nitric Acid Plant

Deepak Fertilisers and Petrochemicals Corporation Ltd (Deepak), one of the JV partners in Platinum, has announced the investment of Rs.550 crores, (approximately $A110 M), to build a new state of the art Nitric Acid manufacturing facility in Dahej, India.

Deepak is already the largest manufacturer of Nitric Acid in India with a current production capacity of 840,000 MTPA, the new plant will add a further 240,000 MTPA potential output. The plant is expected to be commissioned in H2 2017-2018.

 

Deepak Plant

 

Nitric Acid is a key feedstock in the production of Ammonium Nitrate which is used to produce Fertilisers and Technical Ammonium Nitrate (TAN) used in the explosives industry. Deepak is currently one of the world’s largest producers of Ammonium Nitrate and provides an important security of supply option for Platinum’s operations in Australia.