Paradeep Phosphates Limited (PPL or the Company) is a going concern engaged in the production of approximately 1.2 million metric tons per annum (MTPA) of fertilizers, including di-ammonium phosphate (DAP) ) and other complex phosphatic fertilizers representing a combination of multiple nutrients such as nitrogen, phosphorus, potash, and sulphur. PPL also produces intermediary products like phosphoric acid and sulphuric acid, which are its critical raw materials. The plant, located in the port town of Paradeep in the district of Jagatsinghpur in Orissa, has an installed capacity of 720,000 MTPA of DAP, making PPL one of the largest integrated complex-fertilizer plants in India, with a strong market presence, especially in Orissa, and in the neighboring states of West Bengal, Jharkhand, Chattisgarh, eastern Uttar Pradesh, and Madhya Pradesh. PPL has been operating at over 100% capacity since 2003, and has now undertaken a three-year expansion plan requiring a capital expenditure of approximately $120 million to increase its current production capacity of di-ammonium phosphate (DAP) and nitrogen, phosphorus and potash NPK fertilizers by ~25% to 1.5 million MTPA to meet India’s growing demand for fertilizers (the “Project”). The Project entails the addition of incremental capacity as well as improvements to plant efficiency by improving raw material consumption, the material handling system, product quality and environmental standards.