22 September 2010 08:37 [Source: ICIS news]
MUMBAI (ICIS)--Indian fertilizer producer Oswal Chemicals & Fertilizers Ltd (OCFL) plans to construct a new Indian rupees (Rs) 70bn ($1.54bn) facility in Andhra Pradesh state to meet rising domestic demand, a senior company official said on Wednesday.
OCFL had earlier submitted a project proposal to the Andhra government, but the company had not finalised the exact location of the facility, he added.
“We expect to begin preliminary fieldwork for the facility by January 2011 and – once the approvals are in place – we should be able to complete construction in 30 months,” he said.
Meanwhile, feedstock phosphoric acid for the company’s DAP line would come from Syria, where it has a tie-up for phosphate rock supply, said the official.
OCFL’s wholly-owned subsidiary Universal Projects had earlier on 19 August signed an agreement with Syria’s General Company for Phosphates and Mines for the use of rock phosphate feedstock in a new integrated phosphate fertilizer plant.
($1 = Rs45.58)
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