Ramagundam Fertilizers and Chemicals Ltd, which will set up ammonia and urea plants at the existing site of Ramagundam Fertilizer plant in Karimnagar District, has been incorporated.
A joint venture of National Fertilizers Ltd (NFL), Engineers India Ltd. and Fertilizer Corporation of India Ltd., the company will set up new ammonia and urea plants of 2,200 tonnes per day and 3,850 tonnes per day respectively. The joint venture agreement was signed on January 14. The company was incorporated on Tuesday, the NFL said in a regulatory filing to the BSE on Wednesday.
The estimated cost of the project to be implemented by the company is Rs.5,000 crore. The project, targeted for completion in 2018, is part of the revival plan of FCIL units by the Centre.
