NR - Indian Gov Shopping for Potash
Just not shopping in Canada
NMDC-led consortium is planning to buy 30% stake in the Russian potash firm Acron, which may result in an investment of around Rs 1,000 crore. Rashtriya Chemicals and Fertilizers (RCF), National Fertilizers (NFL), Fertilizers and Chemicals Travancore (FACT) and Fertiliser Cooperative Kribhco are the four other entities which are part of this consortium.
Along with purchasing 30 percent stake, the consortium is also looking to enter into an off-take agreement for import of Potash from the Russian firm. At present, National Mines Development Corporation (NMDC) is conducting a feasibility study on this proposal.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
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