Nishant Kanodia promoted Matix Group (“Matix”), dedicated to India’s food security and industrial self-reliance, is expanding its footprint in the industrial and speciality chemical manufacturing sector. The proposed product portfolio is based on a study initiated along with McKinsey and envisages a total investment of Rs. 2600 crores in this sector.
As part of its strategic initiative, Matix is set to establish Eastern India’s first Iso-Propyl Alcohol (IPA) manufacturing plant with an annual planned capacity of 50 KTPA. IPA is a key industrial chemical widely used in pharmaceuticals and personal care products, and the new plant will significantly strengthen domestic supply. The facility will be located within Matix’s existing complex at Panagarh Industrial Park, West Bengal, which also houses its 1.27 MTPA urea plant. Slated for commissioning in FY2027, this investment reinforces Matix’s commitment to India’s #AtmaNirbharBharat mission and the development of India’s industrial chemicals sector.
As part of its supply chain strategy, Matix has signed a Memorandum of Understanding with AdPlus Chemicals and Polymers Private Limited, a step-down subsidiary of Haldia Petrochemicals Limited. This collaboration will ensure a steady domestic supply of Acetone, a key raw material for IPA, for Matix’s proposed plant.
"We have successfully demonstrated our ability to build and operate large manufacturing plants emerging as Eastern India’s largest single stream fertiliser company. The foray into industrial and specialty chemicals aims to leverage our existing infrastructure and build on years of operational expertise to meet the rising domestic demand in this critical sector. This expansion is in line with Matix’s long-term vision of responsible diversification beyond fertilisers into the high-growth chemical sectors. As we drive innovation and scale, our commitment to regional development and the nation’s industrial and economic advancement remains unwavering," said Nishant Kanodia, Chairman, Matix Fertilisers and Chemicals Limited.
Matix Fertilisers and Chemicals Limited is one of India’s youngest and fastest-growing fertiliser companies, holding approximately a 20% market share in eastern India. The company is committed to enhancing agricultural productivity through innovative crop nutrition and soil enhancement products, aiming to nourish every farm and ensure food security for all.
