Search Result for : Urea

The Dollar Business Bureau The availability of overall fertilisers in the country is 129.92 lakh MT, which surpasses the overall demand of 95.84 lakh MT, said Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya on Tuesday. “The availability of fertilisers far exceeds their requirement in the country,” Mandaviya said in a written reply to a question in Lok Sabha. “Nowadays, scarcity of fertilisers has become a thing of the past in the country which has been possible due to the visionary policies of current Government,” he added. The availability of urea, which is largely used by farmers in the country, is 80.28 lakh MT against the requirement of 63.64 lakh MT, informed Mandaviya. The availability of other fertilisers such as DAP (Diammonium phosphate) and NPK ...

The Dollar Business Bureau A Joint review meeting on revival plans for closed fertilizer projects was held today, to realise PM Narendra Modi's vision of ‘Fertilizer Security for Food Security'.  The two-pronged strategy includes existing fertilizer capacity augmentation by increasing the efficiency of the plants and revival of closed fertilizer projects. "With the revival of the fertilizer projects, Gorakhpur, Barauni, Sindri and Talcher, an additional annual production capacity of 75 LMT would be created making India self-reliant in meeting the annual domestic demand of around 320 LMT, from being a net importer currently," Ananthkumar, Union Minister for Chemicals & Fertilizers and Parliamentary Affairs said, after the meeting. "Financial allocations and the ground level work would start in 2017 and the five plants would become fully functional by 2020-21," he added. Through optimum utilisation of existing capacity, India ...

The Dollar Business Bureau Tata Chemicals Ltd, a Tata group company, has announced on Wednesday that it is selling its urea business to Norway's Yara International for Rs.2,670 crore ($400 million). Under the agreement, Tata Chemicals will sell its Barbala urea plant in the state of Uttar Pradesh, which has a yearly capacity of producing 0.7 million tonnes of ammonia and 1.2 million tonnes of urea. The deal is subject to regulatory clearance and is likely to be completed in the next 9-12 months’ time, and Yara International would fund this deal through its internal accrual. “The Board has approved transfer of the business of sale and distribution of urea and customised fertilisers, manufactured by the company at its plants located ...

The Dollar Business Bureau In a bid to meet the demands of eastern states and help India attain self-sufficiency, the government agreed to revive three closed urea plants at Sindri, Gorakhpur and Barauni at a cost of Rs. 18,000 crore. The Union Cabinet, which was chaired by Prime Minister Narendra Modi, approved the renewal of the three fertilizer plants, each bearing potential of 1.27 million tonnes per annum production capacity. The revival will be done through nomination of Special Purpose Vehicle of PSUs such as Coal India Ltd, NTPC, HFCL, FCIL and Indian Oil Corp Ltd. Ravi Shankar Prasad, Law and IT minister, stated that the decision to revive the plants is the game-changer for eastern India’s economy. In 2015, the government had approved the ...

Road & Transport Minister Nitin Gadkari on Wednesday said the Ministries of Chemical and Fertiliser and New and Renewable Energy will soon come out with draft policies in three weeks for manufacturing of coal-based urea and second generation ethanol. “We want to manufacture coal-based urea in the country as presently we are providing Rs 45,000 crore as subsidy on urea,” Gadkari said. “We want to promote second generation ethanol. A unanimous decision was taken that Ministry of New and Renewable Energy and Chemicals Fertilizers will come out with the policies," he said. The decision was taken while he was chairing an inter-ministerial meeting, attended by Agriculture Minister Radha Mohan Singh, Coal Minister Piyush Goyal, Science and Technology Minster Harsh Vardhan and Chemical & Fertiliser ...

Source: PTI    Government will soon exploit economically unviable coal mines for gasification to produce cheaper urea to cut down on huge Rs.55,000 crore annual subsidy on the fertiliser, Union Minister Nitin Gadkari on Saturday said. “We cannot extract coal from 40% coal mines in the country, which are not economically viable. The idea is to use these soon for coal gasification by which we can get urea at a cost of only Rs.8,000 to Rs.10,000 a tonne,” the Road Transport and Highways Minister said at Economic Times Global Business Summit in New Delhi. Four of the 30 chemical and fertiliser factories in India produce urea from naphtha, the cost of which comes to around Rs.40,000 a tonne, he said. The ...

Source: PTI Iran has offered to supply natural gas at $2.95 for a urea plant that India will set up at Chabahar port on the Persian Gulf, but New Delhi wants rates to be lowered. With the US and other western powers easing sanctions against Iran, India has been in talks with Tehran to set up a gas-based urea manufacturing plant at the Chabahar port, besides developing a gas discovery ONGC had made. The total investment in the projects will be around Rs.1,00,000 crore, Road Transport, Highways and Shipping Minister Nitin Gadkari said on Wednesday. Asked about the development of the port, he said: “Various ministries will give their report by September 28, based on which a final decision will be ...

The Dollar Business Bureau The decreasing price of natural gas has created an opportunity for India to enhance its urea production capacity through gas-based plants and offset its subsidy burden. Out of the total consumption of 30 million tonnes per annum (MMTPA), 23 MMTPA is produced in India and 2 MMTPA is imported from Oman under the Urea Off-Take Agreement. The balance requirement of up to 5 MMTPA is met through imports. The government had to increase the subsidy allocation for indigenous urea plants to Rs 360 billion in FY15 from Rs 265 billion in FY14 and revise it to Rs 382 billion (bn) for the current financial year. The subsidy burden had increased due to the upward revision ...