Kochi, Apr 19 (UNI) Assuring assistance to the Fertilisers and Chemicals Travancore Limited (FACT), Union Fertilisers Ministry Secretary J S Sarma today said the Centre was holding talks with certain companies to provide raw materials to FACT, which was taking the brunt of the price hike of raw materials.
Addressing a gathering after launching the bagged gypsum of FACT here, Mr Sarma said ''the Centre has undertood the problems of the FACT and was taking steps to solve them at the earliest.'' The increase in the price of raw materials like sulphur and phosphoric acid was a major problem and the Ministry was negotiating with certain companies to provide the materials, which would materialise in ten days.
Reposing faith in the potential of the FACT, Mr Sarma said the company was not only the first PSU in India but would be the best in the country.
He said the joint venture and expansion proposals were being looked into and a concrete decision would be taken soon in this regard.
Mr Sarma said the Rs 200-crore assistance given to the company was an interim relief and the Centre would provide all help to revitalise the company.
Speaking on the occasion, FACT CMD George Sleeba said the company had recorded an operating profit of Rs five crore in 2007-08.
The company had an annual capacity to produce five lakh tonnes of gypsum and had a total stock of 70,000 tonne, Mr Sleeba added.
He said the company was shrugging away the tag of a 'loss-making company' and was on the path of recovery and growth.
UNI MA SJ 2035