Chem / Fertilisers
Acre ARC sells Nagarjuna Fertilizers and Chemicals debt to AM Green for ₹1,685 cr
Nagarjuna Fertilizers has successfully cleared its massive debt, positioning itself for a potential merger with AM Green to optimize brand and distribution synergies. The unresolved sale issues of its plant and business loom large, impacting the transfer of government subsidies.
Assam's Namrup to get two nano urea plants: Sarbananda Sonowal
Union Minister Sarbananda Sonowal met with Union Minister JP Nadda to discuss expanding the Brahmaputra Valley Fertiliser Corporation Ltd in Namrup. Sonowal urged Nadda to expedite Nano Urea Plant projects within the BVFCL compound. Nadda assured a Rs 500 crore investment to modernize and develop the fertiliser facility, boosting local industry in Assam.
IFFCO withdraws plea from NCLT in Triumph Offshore case
Fertiliser cooperative IFFCO withdrew plea from NCLT restraining Triumph Offshore from issuing shares. This comes after IFFCO sold stake to Swan Energy for Rs 440 crore. IFFCO had sought to prevent share issuance for loan repayment, fearing dilution. NCLT allowed the withdrawal of plea on June 27. Triumph Offshore primarily aims to establish an FSRU project with Swan Energy holding a 51 per cent stake.
Aditya Birla Group’s chemical ops to foray in US with USD 50 million investment
The Aditya Birla Group is already present in the US through Hindalco Industries-owned Novelis Inc and Aleris Inc, and Georgia-based Birla Carbon. It currently has an investment of more than $15 billion in businesses in the US, and is the largest Indian investor in the US as of now.
GST council refers Par panel recos to cut GST on fertiliser to Group of Ministers
Talking to reporters after the 53rd GST council meeting, Keshav said the proposal to reduce the GST rate on fertilisers has been referred to the Group of Ministers (GoM). The issue of further reduction of tax on fertilisers was placed before the GST council in its 45th and 47th meetings held in September 2021 and June 2022, though the council did not recommend any change in rates.
Best Agrolife to launch new insecticide for resistant pests in July
Best Agrolife Ltd has obtained regulatory approval for its new patented insecticide formulation named Nemagen, designed to combat resistant pests causing significant crop damage. The company plans to launch Nemagen in July. According to Best Agrolife, lepidopteran pests such as borers have become resistant to existing insecticides, leading to substantial crop losses ranging from 30% to 50%.
Credit profile of fertiliser companies to remain comfortable in FY25: Ind-Ra
Demand in the fertiliser sector remained robust in FY24, led by higher availability of funds with farmers due to various policy measures, and the stable farm gate prices. Moreover, the sector over the past two-three years has seen supplementary budgetary allocations as and when the prices of key input materials were increased to enable raw material availability and economic viability with producers and importers.
Bombay HC grants temporary relief to Pidilite in M-Seal PV container dispute
The Bombay High Court has restrained Astral Ltd from selling its Solvobond solvent cement products in containers similar to Pidilite Industries' M-Seal PV Seal. Pidilite alleged infringement and passing off, seeking an injunction to prevent further harm. The court granted temporary relief to Pidilite, emphasizing the importance of protecting intellectual property rights.
Coromandel unveils nano fertiliser plant in Andhra Pradesh
Coromandel International Ltd has launched a nano fertiliser plant at its Kakinada facility, aiming to revolutionise Indian agriculture with energy-efficient technologies. The plant, with an annual capacity of one crore bottles, will produce nano fertilisers to enhance nutrient delivery and absorption by plants. Marketed under the 'Gromor Nano' brand, these products have been developed through the company's in-house R&D center and have undergone extensive farmer trials.
Singapore-based Sembcorp to supply green ammonia to Japan from its India plant
Singapore-based Sembcorp Green Hydrogen Pte Ltd signed an agreement with two Japanese firms to supply green ammonia from its 200,000-metric tonne capacity plant in India.
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DCM Shriram inks pact with ICT for R&D in chemical industry
DCM Shriram Ltd has signed a memorandum of understanding with Mumbai's Institute of Chemical Technology (ICT) to boost research and development in the chemical industry. The partnership focuses on specialised R&D projects in chemical engineering, epoxy polymers and composites, and water treatment chemicals. The agreement was signed by ICT Vice Chancellor Aniruddha Pandit and DCM Shriram Chemicals Chief Product Development and Innovation Officer Debabrata Rautaray.
Indian fertilizer industry on track to reach Rs 1.38 lakh cr by 2032 amidst robust growth and strategic innovations
In 2023, the Indian fertilizer market size stood at Rs 94,210 crore, driven by increased agricultural demands and strategic governmental interventions.
India's chemicals market to hit $29.7 bn in 2024, set for steady growth with 3.26% CAGR through 2029
India's chemicals market, valued at USD 220 billion in 2023, is projected to grow to USD 383 billion by 2030, with an 8.1% CAGR. This sector, currently the sixth largest globally by sales, has attracted USD 21.7 billion in FDI from April 2000 to September 2023, benefiting from 100% FDI under the automatic route. Investments in Petroleum, Chemical, and Petrochemical Investment Regions (PCPIRs) are expected to reach USD 420 billion. The establishment of educational institutes like CIPET and IPFT will drive skill development.
Coromandel launches 10 new products to boost crop yields
Coromandel has partnered with Japan's ISK to launch Prachand, a patented product using Japanese technology to protect paddy crops from pests like stem borers and leaf folders that can cause up to 70 per cent yield losses. It has also developed a formulation to effectively combat fall armyworm, a highly destructive pest that damages up to 30 per cent of the corn crop annually in India.
L&T dispatches ethylene oxide reactors to China
Infrastructure major Larsen & Toubro (L&T) on Wednesday said it has dispatched the world's heaviest ethylene oxide reactors -- a crucial component in petrochemical plants -- to China. The reactors were dispatched by the heavy engineering vertical of Larsen & Toubro (L&T) for a project of chemical giant BASF in China, the company said in a statement.
Coromandel to acquire additional 7 pc stake in Dhaksha, invest Rs 150 crore
Coromandel International Ltd invested Rs 150 crore to acquire 7% stake in Dhaksha Unmanned Systems, enhancing research and technology adoption. Dhaksha offers UAS technology solutions, remote pilot training services, with a Rs 265 crore order book.
