Total subsidy outgo for non-urea fertilisers would be Rs 22,875.5 crore for 2019-20 fiscal, the Information and Broadcasting Minister told reporters after the meeting of the CCEA.
Other decisions: Bill to regulate chit funds cleared; SC judges’ strength up to 33.
India has the advantage of abundance of raw materials i.e. limestone and salt and growing domestic demand that favours the establishment of soda ash plants.
"The short tenor loan carries zero running coupon and is the first such financing raised by the group," UPL said.
Spread over 27,000 square feet (sq.ft.) on a sprawling land area of 8 lakh sq.ft., the R&D Centre entailed an initial investment of Rs 20 crore.
Addressing the conference, the Secretary emphasised on HS coding for all major imported chemicals and petrochemicals in the country.
ICRA also expects a reduction of the import duty on LNG to nil from 2.5% currently, resulting in lowering of the cost of production and the subsidy outgo for the GoI.
The global natural gas price also witnessed correction in the recent months and the outlook for the same remaining benign, urea players will see their cost of production fall
The government fixes the maximum retail price of urea and manufacturers are compensated by way of subsidies.
The capital expenditure of specialty chemical manufacturers stood at Rs 7,500 crore in fiscals 2017 and 2018, rating agency Crisil said in a note.
The company said in a statement that it has completed "planned expansion of Rs 40 crore to its rubber chemicals & lube addictive manufacturing capacities."
The fertiliser ministry is thinking on fixing a NBS rate for urea also. "The modalities are under discussion," the source added.
India imports about a quarter of the 32 million tonnes (MT) of urea it consumes every year, but the entire requirement of potash is met from imports.
The company has entered into a definitive agreement to sell its engineering plastics business to DSM.
Founded in 2004, Ideal Chemi Plat manufactures and sells acrylic, alkyd, polyester and other resins for auto refinishing, coil and wood coating and other uses.
Based in Shanghai, Baier will be the senior vice president of the battery division, which is a part of the company’s catalysts business division.
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