Jaiveer Srivastava, CMD, FACT says the earlier revival package of Rs 991 crore is no more valid. The company needs atleast Rs 2,000 crore to pay off its arrears and undertake expansion plans.
The fertiliser ministry has decided that it will take further steps towards the revival of FACT. Jaiveer Srivastava, CMD, FACT says the earlier revival package of Rs 991 crore is no more valid. The company needs atleast Rs 2,000 crore to pay off its arrears and undertake expansion plans.
FACT has submitted its medium and long-term plans to the government and says it needs to go ahead with expansion plans for the company's growth.
It has two plants in Kochi, which can cater to its NPK, ammonia and ammonia sulphate needs.
There is more good news for the company. The Kerala government waived off VAT on LNG being used by the company. It receives around Rs 600-800 crore subsidy from the government every year.
stay tuned for more...
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