(a) whether the Kerala based Public Sector Unit, Fertilizers and Chemicals Travancore Limited (FACT) is negotiating with Syria based Adi Group to set up an Ammonia-Urea
project in Egypt;
(b) if so, whether any memorandum of understanding (MoU) has been signed by the
FACT with the Syrian Firm;
(
(c) if so, the details thereof;
(d) whether this new venture would help in the revitalization of FACT itself; and
(e) if so, the details thereof ?
THE MINISTER OF STATE IN THE MINISTRY OF CHEMICALS & FERTILIZERS AND MINISTER OF
STATE IN THE MINISTRY OF PARLIAMENTARY AFFAIRS (SHRI B.K. HANDIQUE)
(a) to (e): FACT had invited expression of interest from potential investors for Joint
Venture projects as part of its expansion / diversification plans. In response to
the advertisement, M/s Adi Establishment, Syria, evinced interest in setting up a
new Ammonia / Urea Complex in Egypt as a Joint Venture of FACT and Adi Establishment.
A Memorandum of Intent stating the basic intentions and split of
responsibilities between FACT and Adi Establishment has been signed on 09.08.2006.
M/s Adi Establishment has been assuring FACT of assured supply of gas and price.
However, since no commitment of gas supply and pricing has been provided by the
company so far, the proposal has not progressed further.