India’s Oswal Chemicals to build phosphate ferts unit in Syria

24 August 2010 08:07  [Source: ICIS news]

MUMBAI (ICIS)--India’s Oswal Chemicals & Fertilizers Limited (OCFL) plans to re-enter the fertilizer market by setting up an integrated phosphate fertilizer plant in Syria, a source close to the company said on Tuesday.

The company’s wholly-owned subsidiary Universal Projects had signed an agreement with Syria’s General Company for Phosphates and Mines on 19 August for the use of rock phosphate feedstock in the new plant, the source said.

OCFL plans to manufacture diammonium phosphate (DAP) and phosphoric acid in Syria, he added.

The company was still working out the details of the planned project, including the site of the proposed plant and its expected capacity, the source said.

In 2005, OCFL sold its phosphate fertilizers complex at Paradip, Orissa state, to Indian Farmers Fertiliser Cooperative to ease its debt burden.

In the same year, Kribhco Shyam Fertilizers acquired OCFL’s ammonia-urea complex at Shahjahanpur in Uttar Pradesh state.

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By: Priya Jestin

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