The Hindu Business Line : Rashtriya Chemicals aims at higher sales turnover

Visakhapatnam, Sept. 22 Rashtriya Chemicals and Fertilisers Ltd (RCF) is confident of touching, and even crossing, the Rs 5,000-crore mark in sales turnover during the current financial year, as it has taken up trading of fertilisers on a large-scale, according to the Chairman and Managing Director, Mr U.S. Jha.

At a press meet here on Saturday, Mr Jha said the public sector company was currently producing 2.5 million tonnes besides trading in 1.5 mt of imported fertilisers – urea, DAP and MoP.

“The sales turnover during 2006-2007 was Rs 3,500 crore and the profit after tax Rs 150 crore. As we have taken up import and trading of fertilisers, we are confident of touching, and even crossing, the Rs 5,000-crore mark in sales this year,” he said.

Fertiliser sale

During 2006-07 the company had sold 2.6 mt of fertilisers. “Our aim is to sell all kinds of fertilisers, not only urea, DAP and MoP. We are selling micro nutrients, organic fertilisers and bio-fertilisers as well. We have taken up a number of ambitious new projects,” he said.

The CMD said the gas from the Krishna-Godavari basin would be commercially available from 2008 and there would be plenty of feedstock.

“We are adding to the capacity of our urea plant in Maharashtra by 1.1 mt at a cost of Rs 3,000 crore. Its present capacity is 1.7 mt. Besides, we are setting up a 2.5-lakh tonne DAP plant in Rajasthan at a cost of Rs 500 crore,” he said.

Besides, he said, RCF was also involved in reviving fertiliser plants at Durgapur in West Bengal and Talcher in Orissa.

Commenting that the infrastructure at the Indian ports would have to be improved to facilitate easier evacuation, Mr Jha said the company was building a modern warehouse at the Visakhapatnam port on a 10-acre plot given by the port trust on a 30-year lease.

Modern warehouse

“Andhra Pradesh is a major market for us and as Vizag is the number one port in the country, we want to make it a hub for fertiliser import and distribution in the south and also to parts of north India,” he said.

The CMD said there has been no fresh investments in the fertiliser sector for several years, as the Government had not yet formulated a clear policy. “An effective, import-parity policy would encourage investments,” he said.

Mr Jha, also the chairman of the Fertiliser Association of India, said there was delay in subsidy payments to the fertiliser companies by the Union Government during the past three to four years.

More Stories on : Outlook | Fertilisers | Exports & Imports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
ONGC gets 6-month extension to explore in Cauvery basin

Air India pushes back Australia plans

Wacom unveils Bamboo Fun

Companies Bill to be tabled in winter session

Ranbaxy drops patent challenge

Toyota Kirloskar revs up automotive education

ONGC Videsh wins 3 blocks in Myanmar

2 realty cos plan 5-star hotel in Uttarakhand

Rashtriya Chemicals aims at higher sales turnover

MTNL to partner Novatium for Net access device

Encore Hotels eyes Gulf, Western markets