MUMBAI: State-run Rashtriya Chemicals and Fertilizers (RCF) is planning to set up a $1.5 billion, 2.3 million tonnes per annum gas-based urea and ammonium nitrate unit in Ghana, its head said late on Monday.
"An MoU (memorandum of understanding) will be signed on July 4 with the government of Ghana in this regard," Chairman and Managing Director US Jha told reporters on the sidelines of a news conference.
While Ghana would hold 49 percent in the project while the rest would remain with RCF and an Indian investor.
"The other investor could either be a private player or a public sector undertaking," he added. The RCF is also exploring possibilities to set up a fertiliser manufacturing unit in Mozambique. "Availability of gas is an issue in Mozambique," he added.
The fertiliser maker is also making attempts to explore potash, a key soil nutrient, in the western state of Rajasthan. Presently, India imports potash mostly from Canada and Russia, he added. "If the exploration is successful then it might take about three years for the project to get operational," he added.
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