29 June 2012 15:36 [Source: ICIS news]
LONDON (ICIS)--The Indian Farmers Fertiliser Co-operative (IFFCO) will build a 1.25m tonne/year urea plant in ?xml:namespace>
IFFCO will invest $800m ($640m) into the venture and is in the process of scouting for Canadian partners, Awasthi added.
He declined to name possible partners for the project, but said IFFCO would be the majority partner.
“We [IFFCO] are the major partners, and are open to partnering with the farmers and provinces of
IFFCO is in talks with Canadian provinces to finalise the location and expects to make a decision in the next month or two, he added.
The company plans to float a tender in the next two weeks for an engineering, procurement and construction (EPC) contract for the project and expects to receive environmental clearance in 18 months.
Abundant and less expensive supply of gas in
The project is likely to be completed in the next three years, according to media reports.
IFFCO already has three urea plants in
($1 = €0.80)
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