The company will supply product (N2O4) exclusively to the Satish Dhawan Space Centre, Sriharikota, (SDSC-SHAR) under a long-term agreement for 25 years period.
"NFL has received Letter of Intent (LOI) from SDSC-SHAR for establishing di-nitrogen tetroxide (N2O4) production plant (NPP) on build, own, operate & supply model," NFL said in a filing to the BSE.
The project will be set up at NFL Vijaipur, Guna, Madhya Pradesh.
"Plant capacity shall be around 1095 MT N2O4 per annum. Project activities (zero date) shall start around July 2017 with a gestation period of 18 months. Estimated capex requirement shall be around Rs 350 crore," NFL said.
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