New Delhi: State-owned National Fertilizers Ltd (NFL) and Fertilisers and Chemicals Travancore Ltd (FACT Ltd) are in talks with a Syrian firm Adi Establishment for setting up a multi-crore joint venture unit in Egypt.
“We are in negotiations with a Syrian firm to form a joint venture company for setting up a urea ammonia plant in Egypt,” NFL chairman and managing director G.S. Mangat, who is also looking after the affairs of FACT, told reporters here.
The capacity of the proposed plant would be 10 lakh tonnes. He said the Syrian firm has assured that gas would be provided at $1.5 per million British thermal unit (mbtu) for the facility.
Mangat said it is feasible to set up plants overseas only if gas is available between $1.25-1.5 per mbtu.
The memorandum of intent for the venture was originally signed by FACT and NFL would also join the the project, Mangat said.