India plans to set up urea plant in Iran: Govt

RCF, GSFC and GNFC appoint SBI Caps for advisory and due diligence services to find an Iranian JV partner

Government plans to set up a urea plant in Iran to ensure long term availability of the fertilizer here, Chemicals and Fertilisers Minister Ananth Kumar said today.

"In order to ensure long term avialability of urea in the country, the government is facilitating setting up of a urea/ ammonia joint venture project in Iran with capacity to produce 1.3 million tone urea for import to India," he said in Rajya Sabha.

A consortium of Indian companies -- Rashtriya Chemicals and Fertilizers (RCF), Gujarat State Fertilizers and Chemicals (GSFC) and Gujarat Narmada Valley Fertilizer and Chemicals (GNFC) -- have appointed SBI Caps for advisory and due diligence services to identify a prospective Iranian JV partner.

"The project is in a consultation stage to identify an Iranian JV partner," Kumar said in a reply during Question Hour.

India imports about 8 MT of urea to meet its total requirement of 30 MT. Urea is most widely used fertilizer in the country.