Sector News

Russia offers India stake in potash manufacturing company Acron

October 10, 2014
Chemical Value Chain
According to a Business Standard report, Russia has offered a proposal to the Government of India to pick up 30% stake in the Acron, the Russian potash manufacturer, along with buyback agreement for exclusively supplying potash back to India.
 
Acron, a Russian group of interrelated companies, is one of the leading global mineral fertiliser producers in the world, primarily potash. This is over and above the agreement which Indian Potash Limited has with Uralkali, another potash manufacturing Russian company for import of potash.
 
The report adds that the existing import deals with Uralkali will not be hampered with this new development.
 
To take this proposal forward, the Indian government has formed a consortium of five public sector undertakings led by National Mineral Development Corporation (NMDC) with other associates like Rashtriya Chemical Fertiliser (RCF), Krishak Bharti Cooperative (KRIBHCO), Fertiliser and Chemicals Travancore (FACT) and National Fertiliser Ltd (NFL).
 
The primary responsibility of the consortium will be to engage in due diligence of the proposal so as to see how feasible it will be to produce and ensure uninterrupted supply of potash to India through an exclusive buyback arrangement. Only after the due diligence report, the proposal to pick up the stake will be finalised, stakes the report.
 

comments closed

Related News

May 21, 2022

Sika opens new manufacturing plant in Bolivia 

Chemical Value Chain

Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.

May 21, 2022

Chevron increases renewable fuel market share with REG acquisition

Chemical Value Chain

Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.

May 21, 2022

Lotte Chemical to invest $8 bn on hydrogen energy, battery materials by 2030

Chemical Value Chain

Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.