In order to ensure long term availability of urea in the country, the government is facilitating setting up of a urea/ ammonia joint venture project in Iran with capacity to produce 1.3 million tone urea for import to India. A consortium of Indian companies -Rashtriya Chemicals and Fertilizers, Gujarat State Fertilizers and Chemicals and Gujarat Narmada Valley Fertilizer and Chemicals -have appointed SBI Caps for advisory and due diligence services to identify a prospective Iranian JV partner. Currently, The project is in a consultation stage to identify an Iranian JV partner.
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