NFL to invest Rs 1,250 cr on new plant, energy-saving projects
New Delhi: State-owned fertiliser firm NFL will invest Rs 1,250 crore over the next two years on energy saving projects in its five existing plants and setting up a new factory in Madhya Pradesh to produce di-nitrogen tetroxide, its CMD Manoj Mishra said.
Besides that, he said National Fertilizers (NFL) is reviving a closed urea plant at Ramagundam, Telangana, in a joint venture with EIL, FCIL and the state government with an estimated cost of over Rs 5,300 crore. NFL is also exploring the possibility of setting up a di-ammonium phosphate (DAP) plant in Algeria through a joint venture and under buyback arrangements. "We have posted a record turnover of Rs 8,928 crore during the last fiscal. Urea production and sales were also at all-time highs," Mishra told reporters.
NFL, which has five plants at Haryana, Punjab and MP, produced a record 38.1 lakh tonnes of urea in 2017-18 fiscal with 118 per cent capacity utilisation. Urea sales stood at 39.16 lakh tonnes.
It imported 4.47 lakh tonnes of non-urea fertilisers like DAP and muriate of potash (MoP) and sold 3.93 lakh tonnes in the domestic market. Total sales of fertiliser was a record 43.09 lakh tonnes.
Asked about planned capital expenditure, Mishra said, "We will invest Rs 1,250 crore over the next two years on energy saving projects and setting up of new plant".
The company has taken up energy saving scheme at Nangal, Bathinda and Panipat units at an estimated cost of about Rs 650 crore, he said, adding that Rs 220 crore would go towards energy saving schemes at two plants –Vijaipur I & II –in Madhya Pradesh with a capex of Rs 220 crore.