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Cabinet approves MoU on urea manufacturing plant in Malaysia

The Union Cabinet chaired by Prime Minister Narendra Modi has given its ex-post facto approval to the signing of Memorandum of Understanding with Malaysia on the development of a Urea and Ammonia manufacturing plant in Malaysia with off take to India and/or offtake of existing surplus urea from Malaysia to India.
The project is expected to cost US$ 2.1 billion with a capacity to produce 2.4 million tonnes of Urea and 1.35 million tonnes of Ammonia per annum and dedicated supplying to the Indian market.bonaz capital
The MoU once executed will ensure a consistent supply of Urea and Ammonia to cater the need of the country at a lower price if agreed to by both the participants, said an official release by the GoI on Wednesday, 3 May 2017.