India-Russia Joint Venture to Produce 2 MT Urea Annually in Two Years
A joint venture between India and Russia aims to establish a urea production facility with a capacity of 2 million tonnes annually, expected to be operational in two years. This initiative, with an investment of approximately Rs 20,000 crore, is crucial for India's fertilizer supply stability amidst rising import challenges.
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The joint venture for urea production between Indian Potash (IP) and Russia's Uralchem is set to produce 2 million tonnes annually, with completion anticipated within two years. The project includes an investment of Rs 20,000 crore, with Uralchem contributing Rs 10,000 crore for the ammonia plant.
The Indian trio of IP, Rashtriya Chemicals and Fertilizers (RCF), and National Fertilizers (NF) will invest a total of Rs 10,000 crore for the urea manufacturing unit. This facility, located in Togliatti, Samara, Russia, will import all produced urea to India, which has faced supply challenges due to geopolitical factors affecting urea production in West Asia. The venture aims to enhance domestic fertilizer supply, especially as India imports one-third of its fertilizer needs.
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