Rashtriya Chemicals & Fertilizers (RCF) said that it had received approval from the Department of Fertilizers (DOF) for setting up an NPK plant.
In an exchange filing made during market hours today, the company said that the Department of Fertilizers (DOF), Ministry of Chemicals & Fertilizers, Govt. of India, has accorded administrative approval for setting up of a new 1200 MTPD DAP / NPK plant at RCF's Thal unit, which is located in Raigad District, Maharashtra.
The plant will be set up at an estimated project cost of Rs 914.58 crore. The project is expected to be completed in 36 months.
The decision regarding applicability of Surplus Ammonia policy is awaited from DOF, the company said.
RCF is a fertilizer and chemical manufacturing company. The firm manufactures urea, complex fertilizers, bio-fertilizers, micro-nutrients, water soluble fertilizers, soil conditioners and a range of industrial chemicals.
The company's consolidated net profit rose 13.52% to Rs 117.92 crore on a 12.75% increase in sales to Rs 2,612.38 crore in Q2 FY22 over Q2 FY21.
The scrip fell 2.63% to currently trade at Rs 77.70 on the BSE.
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