Cabinet approves MoU on Urea manufacturing Plant in Malaysia
Last Updated at May 4, 2017 00:20 IST
The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval to the signing of Memorandum of Understanding with Malaysia
on development of a Urea and Ammonia manufacturing plant in Malaysia
with off take to India and/or off take of existing surplus Urea from Malaysia
The project is expected to cost US$ 2.1 billion with capacity to produce 2.4 million tonnes of Urea and 1.35 million tonnes of Ammonia per annum and dedicated supplying to Indian market.
The signing of MoU will ensure consistent supply of Urea and Ammonia to cater the need of the country at a lower price, if agreed to by both the participants.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
First Published: Wed, May 03 2017. 00:20 IST