Rashtriya Chemicals Fertilizers plans joint venture fertilizer plant in Iran

Rashtriya Chemicals and Fertilizers to set up fertilizer plant in Iran

11:03 AM, 22nd September 2014
Rashtriya Chemicals and Fertilizers plans joint venture  fertilizer plant in Iran

MUMBAI, INDIA: Rashtriya Chemicals and Fertilizers Ltd (RCF) is scouting for opportunities abroad, including a joint venture to set up fertilizer plant in Iran. With this project, RCF and Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) seek to tap cheaper gas offered by Iran to produce the farm nutrient and ship it to India. The project is expected to materialize after sanctions against Iran are lifted. RCF is also exploring possibilities of entering into long-term offtake agreements for potash with suppliers in Canada.

“We are looking for an Iranian partner to build a $800-million urea plant in Iran, which has the second largest reserves of gas in the world. The plant will have 1.27 million tonne of urea production capacity. The Iranian partner will be selected by SBI Capital Markets (SBICAPS),” said RG Rajan, Chairman and Managing Director, RCF.

“The increased demand-supply gap in the country provides for opportunity to expand our urea base at Thal in Maharashtra. Alternate feedstock like coal gas gives an opportunity to undertake fertilizer projects in other parts of the country closer to coal mines. RCF plans to undertake major projects like an additional ammonia urea project at Thal and a coal-based fertilizer plant at Talcher,” added Rajan.

 

© PTI News 

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