Oman-India fertiliser project worth USD 969 mn takes off

Dubai, Jan 29 (PTI) Taking the bilateral trade relations to a new high, Oman and India have launched a USD 969 million fertiliser company which will ensure long-term supply of competitively priced nitrogenous fertilizer based on natural gas feed stock to the Indian agricultural market.

Minister of Chemicals, Fertilisers and Steel Ram Vilas Paswan, who inaugurated the Oman-India Fertiliser Company (Omifco) along with Oman's National Economy Minister Ahmed bin Abdulnabi Macki yesterday, said the launch coincided with the golden jubilee of the historical diplomatic relationship between the two countries.

"I should point to the letter sent by the Prime Minister of India praising the project in which he regarded this step as a major milestone in enforcing the ties between our two countries.

The plant covers an area of 175 hectares, and includes all basic utilities and off-site facilities like product storage, power generation, seawater cooling and a jetty.

The project, regarded as the largest ever overseas joint venture investment by India, will produce 1.65 million tonnes of granulated urea and 0.24 million tonnes of surplus ammonia annually, with the entire production to be exported to India by sea.