Cabinet approves MoU on Urea manufacturing Plant in Malaysia
Last Updated at May 4, 2017 00:20 IST
The Union Cabinet
chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval to the signing of Memorandum of Understanding with Malaysia
on development of a Urea and Ammonia manufacturing plant in Malaysia
with off take to India and/or off take of existing surplus Urea from Malaysia to India. .
The project is expected to cost US$ 2.1 billion with capacity to produce 2.4 million tonnes of Urea and 1.35 million tonnes of Ammonia per annum and dedicated supplying to Indian market. .
The signing of MoU will ensure consistent supply of Urea and Ammonia to cater the need of the country at a lower price, if agreed to by both the participants. .
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
First Published: Wed, May 03 2017. 00:20 IST