Mumbai : On Friday, state-run Rashtriya Chemicals and Fertilizers Ltd (RCF) said it has taken up projects worth Rs.15,000 crore in the domestic as well as international markets.
RCF chairman and managing director Manoj Mishra said, “We are investing Rs.8,000 crore in a coal-based fertiliser plant at Talcher in Odisha, Rs.5,530 crore project of additional ammonia and urea at Thal (Maharashtra), Rs.209 crore sewage treatment plant at Trombay (in Mumbai), Rs.950 crore project of energy conservation and $903 million urea project in Iran over the next few years.
On the international front, the company holds a RS 500 crore share in its Iran project, a four-way joint venture. The mini-ratna public sector undertaking, along with Coal India Ltd (CIL), GAIL (India) Ltd and Fertilizer Corporation of India Ltd (FCIL), is setting up a fertiliser complex at Talcher, comprising 2,200 million tonne per day (MTPD) ammonia plant and 3,850 MTPD urea units using coal gas as feed stock. The project cost os estimated at Rs 8,000 crore. Coal for the project will be made available by CIL from nearby fields. The project, which will utilise state-of-the-art coal gasification technology, will be executed by a joint venture company, Talcher Fertilizers Ltd. “We have a net worth of Rs.2,800 crore and will be able to raise up to Rs.10,000 crore in debt and equity to fund these projects in a phased manner over the next few years,” Mishra said. RCF also proposes to expand urea capacity at Thal by setting up a single stream ammonia plant of 2,200 MTPD capacity and a single stream urea plant of 3,850 MTPD capacity at a cost of Rs.5,530 crore.
Commenting on financial performance of the company, Mishra said total income rose toRs.8,761 crore in the financial year ended 2015-16 compared with Rs.7,787 crore in the previous year.
The company’s margins, besides sales of both fertilisers and industrial products, have been adversely affected by a host of factors, Mishra said.
