Tata Chemicals Ltd (TCL) is likely to invest $170 million (Rs 760 crore) in the second phase (stream II) of expansion of the fertiliser complex at Gabon in Africa. On Monday, TCL had announced its acquisition of 25.1 per cent stake in the ammonia-urea fertiliser complex at Gabon for $290 million (nearly Rs 1,300 crore).
According to R Mukundan, managing director, Tata Chemicals, the company plans to export bulk of the product from the new plant. “Within Gabon, there is little consumption. One-third of the product will be sold in Africa, one-third will be exported to Latin America and the remaining, to the rest of the world, including India,” he said. The plant is located near Gabon’s main seaport and it enables cost-effective material handling to large markets such as Africa, North America, Latin America and India.
