Page 42 - CW E-Magazine (31-12-2024)

Fertilisers

TRENDS
India’s urea production estimated to rise by 6% to 24-mt

India’s urea produc- Department of Ferti- put,” Mr. Bishnoi added. Earlier this
tion is estimated to in- lisers has taken vari- year, the Cabinet had approved the
crease by more than 6% ous initiatives which pooling of gas for all urea plants under
to 24-mt in this fi scal on will defi nitely result in which gas will be provided to all plants
the back of new policy raising domestic urea at one uniform price. The government
initiatives, a top Ferti- output,” Fertiliser Se- had also approved the new urea policy,
liser Ministry offi cial has cretary Mr. Anuj Bish- which emphasizes on improving en-
said. Urea production has noi said. The Secretary ergy effi ciency.
been stagnant at around added that in last fi scal,
22-mt for last few years, urea production was at Urea is a controlled commodity
whereas demand has ri- 22.6-mt, which is esti- and its price is fi xed at Rs. 5,360 per
sen to about 30-mt. The difference is mated to reach 24.0-mt this year.“The tonne. The difference between cost of
met through imports. policy initiatives like gas pooling and production and selling price is paid as
incentivising the energy effi ciency subsidy to manufacturers. The govern-
“Following the government’s agen- measures under the new urea policy ment wants to reduce its dependence on
da of promoting ‘Make in India’, the will yield good results in terms of out- imports.

FORMALISATION
CCEA approves special banking arrangement for

payment of outstanding subsidy

The Cabinet Commit- This has already Rs. 64.03-crore was paid to the banks.
tee on Economic Affairs been implemented/ope- Government is making available fer-
(CCEA) chaired by the rationalized to over- tilizers, namely urea and 22 grades of
Prime Minister Narendra come the liquidity prob- P&K fertilizers to farmers at subsidized
Modi, has given its ex-post lems of the fertilizer prices through fertilizer manufactures/
facto approval for a Spe- companies. Under the importers. For making funds available
cial Banking Arrangement above SBA, a total of to the fertilizer companies against their
(SBA) for a loan of Rs. Rs. 6,806.66-crore for subsidy claims, the Ministry of Finance
7,000-crore with a consor- settlement of subsidy had approved SBA for an amount of
tium of public sector banks bills with the two con- Rs. 7,000-crore with Government inter-
led by State Bank of India sortia led by SBI and est liability limited to G-Sec rate. Ac-
(SBI) and Punjab National PNB was raised by the cordingly, an SBA was worked out with
Bank (PNB) for settlement of outstand- Government. The above loan amount the two consortia of banks to meet the
ing indigenous urea subsidy bills of fer- along with interest liability on the part outstanding subsidy claims of fertilizer
tilizer companies in 2014-15. of Government thereon amounting to companies.

Zuari Agro’s Q2 net plunges 86%

Zuari Agro Chemicals Ltd. (ZACL) of Rs. 21.95-crore in the year ago pe- said. During the quarter, the company
has reported a 86% decline in its net riod. Net sales of the company during has invested Rs. 16.69-crore in the
profi t at Rs. 3.12-crore for the quarter July-September quarter declined to Rs. equity of MCA Phosphates Pte Ltd., 25 KL Reactor Condensers Ribbon Blenders
ended September 30 due to fall in sales. 1,327.17-crore from Rs. 1531.61-crore which is a joint venture fi rm with Mit-
The company had clocked a net profi t in the year ago period, the company subishi Corporation, it added.

160 Chemical Weekly November 10, 2015 42 Chemical Weekly December 31, 2024

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