Русский
India and Russia are planning to set up a urea production facility at a cost of US$2 billion, according to Indian domestic media. The facility – a joint venture between Russia’s Uralchem and Indian Potash, Rashtriya Chemicals and Fertilizers, and National Fertilizers – is expected to be located at Togliatti, Russia.
Indian Potash Managing Director PS Gahlaut said that “The urea plant should be ready within the next two years. Indian Potash, Rashtriya Chemicals and Fertilizers, and National Fertilizers “are expected to discuss the pre-feasibility report soon. The urea manufacturing facility will act as an assured supply source for India.”
New Delhi had agreed to import urea at double the global market price it paid earlier this year, amid the supply disruption caused by the Middle East conflict. Indian Potash agreed to buy 2.5 million tons of urea – nearly a quarter of its annual imports.
India is the world’s biggest urea importer. The nation’s urea production depends heavily on natural gas, which is mainly imported from the Middle East. Rating agency ICRA projects that India’s reliance on urea imports will increase to around 30% of total consumption by 2030.
India is looking to boost fertilizer imports from Russia, Belarus, and Morocco as a supply crunch looms due to the Middle East conflict and as China announced export curbs ahead of the summer planting season.
