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Business EconomyPosted at: Sep 22 2016 4:50PM


KRIBHCO to set up DAP complex, fertilizer plant in Andhra, shelves Hazira project

New Delhi, Sep 22 (UNI) Krishak Bharati Cooperative Limited (KRIBHCO), the premier fertilizer producing farmers’ cooperative society, has completed all formalities for setting up of Phosphoric and Potassic (P&K) fertilizer plant near Krishnapatnam in Andhra Pradesh with total investment of Rs 1000 crore.
KRIBHCO has meanwhile shelved its plan to set up Hazira Fertilizer Phase II project due to cheaper imports available and prevailing state of affairs of the fertilizer industry in the country.

''This will be the first P&K fertiliser plant of the cooperative, which produces urea only. The plant is being set up in Andhra Pradesh as the state government has offered power at Rs 1 per unit for next ten years, VAT exemption for next Seven years and host of other incentives, giving benefit to KRIBCO of about Rs 500 crore,'' said Dr Chandra Pal Singh Yadav, Chairman, KRIBHCO while addressing the 36th Annual General Body meet here today.
He said, “the land has already been allotted by state government for the fertiliser plant. The annual capacity of the plant will be about 600,000 tonnes and it will require an investment of Rs 1,000 crore. It will take 4-5 years for the project to become operational. There are also plans to increase the capacity of this plant in the second phase and take the total annual capacity to 1.2 million tonnes per annum.”
“At present, Kribhco has one urea plant in Hazira in Gujarat having an annual capacity of 2.2 million tonnes. Besides, the cooperative has one plant in Shajhanpur in Uttar Pradesh in partnership with the Shyam group having a capacity of 1 million tonnes and one plant in Oman in partnership with IFFCO,” said Mr Singh.
KRIBHCO also declared a dividend of 20 per cent for member cooperative shareholders. The company made a profit of Rs 275 crore during 2015-16.
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Tags: #KRIBHCO to set up DAP complex# fertilizer plant in Andhra# shelves Hazira project
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