25 September 2012 08:33 [Source: ICIS news]
“The financial package finalized by an inter-ministerial committee was aimed to give greater leverage to Indian companies in seeking lease of rights or concessions of assets, setting up projects or pricing concessions in rock phosphate assets available in Togo,” the official in Department of Chemicals and Fertilizer told ICIS.
“The department has proposed that to maximize government’s bilateral initiative, joint ventures or consortiums based on private-public partnerships (PPP) between Indian private and government-owned fertilizer producers should be set up for rock phosphate asset acquisition in Togo,” he added.
“The proposed financial package for
Given the rising global demand for fertilizer and resulting rush to acquire scarce fertilizer mineral assets, the Indian government proposed to set up a centralized agency to monitor and ensure that several Indian companies do not compete for the same asset overseas.
Existing guidelines applicable to government-owned fertilizer companies will be liberalized to ensure greater flexibility in partnering private companies and faster decision-making in exploring phosphatic mineral assets in
The government-owned companies include Rashtriya Chemicals and Fertilizer Limited (RCFL), Indian Farmers’ Fertilizer Co-operative Limited (IFFCO) and Krishak Bharti Co-operative Limited (KRIBHCO).
It imported 5.2 million tonnes of rock phosphate per year and 2.2 million tonne of phosphoric acid, the basic raw material for DAP production. during 2010-2011.
During January-June 2012, import of rock phosphate was 2.23 million tonne of which 10% was sourced from
($1 = €0.77)
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