Joint Venture Fertilizer Projects
The Minister of State for Chemicals and Fertilizers Shri Hansraj Gangaram Ahir has said that Indias dependence on import at present is to the extent of 25% in Urea, 90% in phosphates and 100% in Potash. In a written reply in the Lok Sabha today, he said considering these facts the Government has been encouraging Indian companies to establish Joint Ventures in countries which are rich in fertilizer resources such as gas, rock phosphate and potash. List of JVs between Indian companies abroad is -
There has been substantial saving on foreign exchange through these JV projects. The total foreign exchange saving in the last 10 years by importing Urea from OMIFCO, a JV between Oman Oil Co. & IFFCO/KRIBHCO is around Rs.14, 700=00 Crores.
These long-term agreements by fertilizer companies will ensure assured supply of fertilizers/raw materials in the country and price preference as per the agreements to the companies, Shri Ahir added.
| S. No. | JV Project-Country | JV participants with equity % | Product and the Project status |
| 1. | Oman India Fertilizer Co.(OMIFCO), Oman | Oman Oil Co. (OOC-50%), IFFCO (25%) & KRIBHCO (25%) | 16.52 lakh MT Urea & 2.48 lakh MT Ammonia. Production started in the year 2006. |
| 2. | ICS Senegal, Senegal | ICS Senegal and IFFCO consortium | 5.5 lakh MT phosphoric acid. Production already started. |
| 3. | JPMC-IFFCO JV, Jordan | JPMC & IFFCO | 4.8 lakh MT Phosphoric acid. The commercial production is expected to start by end of December, 2014. |
| 4. | IMACID, Morocco | OCP (50%) Morocco, Chambal (25%) & TCL (25%)-India | 4.25 lakh MT phosphoric acid. Not yet operationalized. |
| 5. | Tunisia-India Fertilizer Company (TIFERT),Tunisia | GCT (Tunisia), CFL (Now CIL) & GSFC (India) GCT-70%, CIL-15% and GSFC-15%. | 3.60 lakh MT of Phosphoric acid. Commercial production has started. |
There has been substantial saving on foreign exchange through these JV projects. The total foreign exchange saving in the last 10 years by importing Urea from OMIFCO, a JV between Oman Oil Co. & IFFCO/KRIBHCO is around Rs.14, 700=00 Crores.
These long-term agreements by fertilizer companies will ensure assured supply of fertilizers/raw materials in the country and price preference as per the agreements to the companies, Shri Ahir added.