Government plans to revive sick units to double urea market share – Feedback

The Indian urea industry may witness a major transformation where the government could attain a major share by 2020, on the back of a series of steps to revive several state-owned sick industrial units.

Industry experts and analysts said the government steps could result in the stabilisation of urea prices — due to rising local production and cheaper imports from overseas facilities partly owned by India — and enable the government to take its share in the urea market to around 50% from the current 25%. According to a senior fertiliser ministry bureaucrat, the government hopes to commission five to six fertiliser plants in Iran, Congo and Algeria and the domestic market by 2020, substantially bringing down the dependency on foreign producers who currently constitute a fourth of domestic consumption. India, which consumes around 32 million tonnes of urea a year, produces some 25 million tonnes and imports the balance, say experts.

http://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/government-plans-to-revive-sick-units-to-double-urea-market-share/articleshow/55432389.cms

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