Fertilisers and Chemicals Travancore (FACT) will invite private companies for its proposed Rs 6,000-crore joint venture by month-end, as none of the PSUs has shown interest in the venture, a senior official said today.
“We will come out with another EoI to invite private companies by the end of this month as no PSU has shown interest in our proposed joint venture,” the FACT Chairman and Managing Director, Mr Shyam Lal Goyal, told PTI.
The investment this time would be in the same range as the previous EoI, he added. The Kerala-based PSU had last year invited expressions of interest (EoIs) seeking partnerships with other PSUs to establish five plants with an annual capacity of more than 38 lakh tonnes per annum.
The company intends to set up a new sulphuric acid plant, urea plant, NP complex fertiliser plant, SSP plant and ammonia-urea complex.
The proposed ammonia-urea complex at Kochi division will consist of an ammonia plant of capacity 2,000 tonnes per day (TPD) and a urea plant of 3,500 TPD.
FACT also plans to set up a new sulphuric acid plant with a capacity of 2,000 TPD.
The company aims to increase its annual complex fertiliser output to 10 lakh tonnes per annum by installing an additional 1,000 TPD NP plant at Cochin using outsourced ammonia, phosphoric acid and sulphuric acid.
The company also plans to set up a 500 TPD SSP (Single Super Phosphate) plant at Udyogamandal.
FACT manufactures urea and complex fertilisers and is one of the largest fertilisers and chemical producers in Kerala.
It also produces petrochemicals and provides engineering solutions for establishing petrochemicals, pharmaceuticals, refining plants.