GNFC forms JV with Santosh Agrochem to set up purified wet lime facility

Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) will build a purified wet lime facility in collaboration with Santosh Agrochem in Bharuch, Gujarat, with an estimated investment of Rs 50 crores. 

“The company has signed joint venture (JV) agreement with Santosh Agrochem LLP for setting up a purified wet lime project having capacity of about 345 metric tonnes per day (MTPD) at Bharuch, Gujarat. The project will be implemented in two phases through a JV company, named Calciwell Chemtech Pvt Ltd (CCPL), at an estimated cost of Rs 50 crore,” said GNFC in a BSE filing yesterday. 

While GNFC will hold 10 percent in CCPL, Santosh Agrochem will own the remaining 90 percent stake in the JV.