Fertiliser firms to invest $5 bn in JVs abroad

by Dave


Indian fertiliser companies are planning to invest around $5 billion (Rs 21,000 crore) in overseas joint ventures over the next three years. These companies are in negotiations for 19 such ventures, said government officials. These joint ventures are aimed at sourcing nitrogenous, phosphatic fertilisers and other raw materials.

The companies involved in the talks include domestic fertiliser majors such as Indian Farmers Fertiliser Cooperative (Iffco), Rashtriya Chemicals & Fertilisers (RCF), Nagarjuna Fertilisers & Chemcials, Coromandel Fertilisers & Mangalore Chemicals & Fertilisers among others. The talks are being spearheaded by the department of fertilisers, the nodal agency responsible for adequate availability and timely supply of fertilisers across the country.

While the proposed ventures in Argentina, Canada, Jordan, Morocco and Ukraine are primarily aimed at potash production, the government is looking at countries such as Algeria, Australia, Azerbaijan, Egypt, Iran, Kuwait, Mozambique, Nigeria, Ukraine and Saudi Arabia for ammonia and urea fertilisers.