IIFCO to set up Fertiliser Plant with Egyptian collaboration

Coimbatore, Tamil Nadu Sep 21 (UNI) Indian Farmers Fertiliser Cooperative Limited (IIFCO) Marketing Director D K Bhatt today said that IIFCO would set-up a Fertiliser Plant in collaboration with an Egyptian Company at an estimated cost of Rs 325 million US Dollars.

Inaugurating the Electronic Commodities Rate Display Unit at Tamil Nadu Agricultural University(TNAU) here, he said IFFCO and National Commodities Derivative Exchange(NCDE) would provide similar commodity rates on the display board to the farmers in 1400 areas.

Mr Bhatt said the display boards would inform the prices of various crops grown in different agro-climatic conditions.

He said the company has made Rs 980 crore turnover during 2005-06 and made profit of over Rs 400 crore. Last year, the company had sold 8.2 million tonne fertiliser in the country, he added.

He said the company was planning to increase the production of fertiliser to over one million tonnes.

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