 "GNFC & Belgium’s EcoPhos to set up Rs 526 cr di-calcium phosphate plant")
Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) and EcoPhos of Belgium will invest about Rs 526 crore for setting up a plant to produce 200,000 metric tonne per annum (MTPA) of animal feed grade di-calcium phosphate at Dahej, Gujarat. Two companies had signed a memorandum of understanding for the formation of joint venture in September 2014.
“The company has signed joint venture (JV) agreement with EcoPhos of Belgium for setting up of 2,00,000 MTPA di-calcium phosphate project at Dahej (Gujarat) at an estimated cost of Rs 526 crore,” said GNFC in a BSE filing on March 12, 2016.
EcoPhos will hold 85 percent stake in the JV, to be named EcoPhos GNFC India Pvt Ltd, while the remaining will be with GNFC. The main objective of the JV is to consume around 150,000 MTPA of hydrochloric acid (HCl) generated as by-product from GNFC’s new 50,000 MTPA toluene diisocyanate (TDI) plant set up at Dahej. Toluene diisocyanate is primarily used as a chemical intermediate in the production of polyurethane products, which are commonly used in automotive seating, furniture foam applications, etc.
GNFC will provide the raw materials for the JV project, EcoPhos will market the output of the JV’s production site at Dahej through its animal feed division.
