Business & Economy

Cabinet approves MoU on urea manufacturing plant in Malaysia

NetIndian News Network

New Delhi, May 3, 2017

The Union Cabinet today gave its ex-post-facto approval to the signing of a memorandum of understanding (MoU) with Malaysia on the development of a urea and ammonia manufacturing plant in Malaysia with offtake to India and/or offtake of existing surplus urea from Malaysia to India.
The project is expected to cost $ 2.1 billion with a capacity to produce 2.4 million tonnes of urea and 1.35 million tonnes of ammonia per annum and dedicated supply to the Indian market, an official press release said.
The signing of the MoU will ensure a consistent supply of urea and ammonia to cater the need of the country at a lower price if agreed to by both the participants, it added.