FACT chalks out Rs 6,000-cr expansion plan

State-owned Fertilisers and Chemicals Travancore (FACT) plans to set up five plants in joint ventures at an investment of nearly Rs 6,000 crore.

The Kerala-based company has invited expressions of interest (EOIs) seeking partnerships with other public sector undertakings (PSUs) to establish five plants with an annual capacity of more than 38 lakh tonne per annum.

In the EOI, FACT said that it "intends to venture into an expansion and diversification plan in the core sector to sustain its productivity levels and improve profitability".

The company, which has two facilities in Kerala, has identified certain projects such as a new sulphuric acid plant, urea plant, NP complex fertiliser plant, SSP plant and Ammonia-Urea complex, which requires substantial investment.

FACT intends to associate with suitable PSUs for jointly taking up these projects and has invited EOIs from those PSUs who are willing to invest in these proposed ventures for Joint Venture participation or any other appropriate business model.

The company plans to set up the projects at Kochi and will provide land and available infrastructure facilities.

Giving details about the expansion plan, FACT said it intends to set up a ammonia-urea complex at Cochin division with an estimated investment of Rs 4,500 crore. The proposed complex will consist of an ammonia plant of capacity 2,000 tonnes per day (TPD) and a urea plant of 3,500 TPD.