(a) whether Indian Farmers Fertilizer Cooperative Limited (IFFCO) plans to fund about USD 500
million to establish a urea plant in Canada;
(b) if so, the details thereof;
(c) Whether this move will bring in cost-effective low price urea into India;
(d) if so, the details thereof; and
(e) if not, the manner in which this investment is likely to be helpful to the country?
MINISTER OF STATE (INDEPENDENT CHARGE) IN THE MINISTRY OF CHEMICALS & FERTILIZERS AND MINISTER OF
STATE (INDEPENDENT CHARGE) IN THE MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION (SHRI SRIKANT KUMAR JENA)
(a) & (b): Yes Madam. The total equity contribution for the proposed Project is estimated around
USD 500 Million. But the share of IFFCO in total equity contribution is yet to be finalized.
(c) & (d) : The cost of the Urea produced from the proposed Project to India would be dependent
upon the economics of transportation costs from Canada to India. Increased production of Urea from
the proposed Project will reduce Imports of Urea into North America from Middle East, which in turn
is expected to have softening impact on CFR India prices of Urea.
(e) : Question does not arise.