"We want to start the construction work of the plant this year itself. Officials of Union Chemicals and Fertilisers Ministry are holding talks with their Madhya Pradesh counterparts to choose a place," he told reporters on the sidelines of a function.
The proposed fertiliser plant will be made ready for manufacturing within three years, he said.
According to the minister, the plant will operate on public-private partnership (PPP) model and envisages production of 13 lakh tonnes of urea per year to meet the demands of farmers in the state.
Under the proposed project, more than 100 ancillary units of health and drugs will be allocated land to generate 40,000 jobs, he said.
To a query, he said the Narendra Modi government is working continuously to restore peace in Kashmir and added that the visit by an all-party delegation has sent a positive message among people of the Valley.