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Brinks Report > Blog > Business > GNFC’s Bold Move: Can This New Nitric Acid Plant Supercharge India’s Chemical Industry?
Business

GNFC’s Bold Move: Can This New Nitric Acid Plant Supercharge India’s Chemical Industry?

Dolon Mondal
Last updated: March 25, 2025 11:00 am
Dolon Mondal
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Gnfc’s bold move: can this new nitric acid plant supercharge india’s chemical industry?
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Trulli

A Big Leap for GNFC

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) has taken a major step forward by awarding a contract to ThyssenKrupp Udhe India (TKUIPL) for a new 200,000 MTPA Nitric Acid Plant. The deal, approved by GNFC’s board on 13 August 2024, will expand the company’s production capacity by 57%, strengthening its position in the chemical industry.

Nitric acid is a crucial chemical used in fertilizers, explosives, and other industrial applications. With this new plant, GNFC will not only meet growing demand but also support the Make in India initiative by reducing imports.

Trulli

ThyssenKrupp, a global leader in chemical plant technology, will provide process know-how and licensing, ensuring high efficiency and environmental safety. GNFC already operates two nitric acid plants with ThyssenKrupp’s technology, and this third unit reinforces their long-term partnership.

Also Read: India’s Green Energy Leap: Adani’s $325M Transmission Project in Gujarat

Economic & Environmental Impact

The expansion aligns with GNFC’s strategy of horizontal integration, diversifying into chemicals, energy, and IT. Despite a 9.1% drop in total income in Q3 FY25, GNFC’s net profit surged 68%, showcasing strong financial health.

Additionally, the company remains committed to sustainable growth, ensuring the new plant adheres to strict environmental norms.

Market Response

GNFC stock jumps 1.34% to ₹497.80 as market rewards expansion plans – up ₹6.60 in single session

This move not only boosts GNFC’s production but also strengthens India’s self-reliance in the chemical sector.

Also Read: EaseMyTrip Targets Saudi Arabia’s $110B Tourism Goldmine

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TAGGED:Chemical IndustryGNFCGujarat FertilizersMake in IndiaNitric Acid PlantThyssenKrupp
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