By IANS,
New Delhi: India is interested to set up joint ventures abroad in the fertiliser sector to reduce its urea imports, Minister of State for Chemicals and Fertilisers Srikant Kumar Jena said Thursday.
“The government has been continuously encouraging setting up of joint venture fertiliser projects in gas-rich countries in order to reduce our import dependence of urea sector,” Jena told the Lok Sabha in a written reply.
India has been pursuing such projects in countries such as Saudi Arabia, Qatar and Mozambique, but have not been able to conclude any major deal as there has been no firm allocation of gas for fertiliser joint ventures, the minister said.
“The only successful joint venture project in the urea sector is the OMIFCO project in Oman.”
OMIFCO or the Oman India Fertiliser Co is owned 50 percent by Oman Oil Co, with the remaining being held equally by Indian Farmers Fertiliser Cooperative Ltd and Krishak Bharati Cooperative.