Govt undertakes revival of closed fertilizer projects to make India self-reliant
The Dollar Business Bureau A Joint review meeting on revival plans for closed fertilizer projects was held today, to realise PM Narendra Modi's vision of ‘Fertilizer Security for Food Security'. The two-pronged strategy includes existing fertilizer capacity augmentation by increasing the efficiency of the plants and revival of closed fertilizer projects. "With the revival of the fertilizer projects, Gorakhpur, Barauni, Sindri and Talcher, an additional annual production capacity of 75 LMT would be created making India self-reliant in meeting the annual domestic demand of around 320 LMT, from being a net importer currently," Ananthkumar, Union Minister for Chemicals & Fertilizers and Parliamentary Affairs said, after the meeting. "Financial allocations and the ground level work would start in 2017 and the five plants would become fully functional by 2020-21," he added. Through optimum utilisation of existing capacity, India ...
Urea subsidy to reduce marginally, as gas prices decline
The Dollar Business Bureau The indigenous urea subsidy bill will be arrested marginally by INR 9.3 billion FY2016 pursuant to the 7.72% cut in domestic natural gas prices to USD 4.66 per mmbtu (million metric British thermal unit) from USD 5.05 per mmbtu. In one of its reports, “Fall in Gas Prices to Impact Urea Subsidy’, India Ratings & Research Company (Ind-Ra), said that the downward revision in prices is applicable for the period April 1, 2015 to September 30, 2015 and is due to the decline in gas prices at the bench mark indices of Henry Hub (HH) in the US, National Balancing Point (NBP) in the UK, Canada’s Alberta Hub as well as Russia’s energy hub, over ...
