Hyderabad-based fertiliser manufacturer Coromandel International Limited today entered into an agreement with Qatar Fertiliser Company (Qafco) for the supply of urea.
The contract was signed by Qafco chief executive Khalifa Al Sowaidi and Coromandel International managing director Kapil Mehan.
Coromandel is the first company in India to have been granted direct import permission of urea for its captive consumption through public sector import agencies like MMTC, IPL and STC, a company release said.
“This agreement will be helpful when urea fertiliser will be decanalised,” said A Vellayan, chairman of Coromandel International.
Qafco produces around 3 million tonne of granular urea and has expansion plans to produce 3.8 million tonne of ammonia and 5.6 million tonne urea, to become the largest single-site producer of ammonia and urea globally.
Sowaidi said India was one of the strategic markets for Qafco and this agreement would pave the way for further strengthening of company’s presence here.
Coromandel, part of the Rs 17,051-crore Murugappa group, has a manufacturing capacity of 2.9 million tonne and retail presence in more than 425 rural centres. It registered a turnover of Rs 7,527 crore in the last financial year.
