12 April 2013 15:10 [Source: ICIS news]
LONDON (ICIS)--India’s Oil and Natural Gas Corporation (ONGC) has signed a memorandum of understanding with Chambal Fertilisers and Chemicals to build a urea fertilizer plant in the country’s Tripura state, it said on Friday.
If realised, the project could have a capacity of 1.3m tonnes/year and involve an investment of about Indian rupees (Rs) 50bn ($926m), ONGC said.
ONGC said that the plant would be fed by gas it discovered in Tripura. The gas is in a “logistically challenging” part of the northeastern state and would otherwise be left stranded, it added.
($1 = Rs54)
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