Madras Fertilizers Limited, under the administrative control of the Department of Fertilizers, Ministry of Chemicals and Fertilizers, is planning to set up a urea plant, involving an investment of about Rs 4,500 crore, according to a Business Standard news. The company is reportedly exploring joint venture route for the new plant, which will be based on gas.
“The government wants us to set up a greenfield facility, which can use gas instead of naphtha to produce urea and this would help the government to cut down the subsidy,” stated I Vijayakumar, CMD, Madras Fertilizers Limited, in the Business Standard report.
Madras Fertilizers has around 130 acres of vacant land near to its existing facility, which can be used to set up the new greenfield facility. The company currently has a manufacturing facility near Chennai with a capacity to manufacture 4.87 lakh tonnes of urea per annum.
For Complete Report Read: Madras Fertilizers plans to set up Rs 4,500-cr urea facility
“The government wants us to set up a greenfield facility, which can use gas instead of naphtha to produce urea and this would help the government to cut down the subsidy,” stated I Vijayakumar, CMD, Madras Fertilizers Limited, in the Business Standard report.
Madras Fertilizers has around 130 acres of vacant land near to its existing facility, which can be used to set up the new greenfield facility. The company currently has a manufacturing facility near Chennai with a capacity to manufacture 4.87 lakh tonnes of urea per annum.
For Complete Report Read: Madras Fertilizers plans to set up Rs 4,500-cr urea facility