Tata sells phosphates unit to IRC Agrochemicals

摘要

Indian chemicals firm Tata has approved the sale of its phosphates business to domestic firm IRC Agrochemicals for a lump sum of 3.75bn rupees ($58m) as it moves to exit the fertilizer sector. The sale includes Tata's Haldia plant in West Bengal state, which has a capacity of over 1.2mn t/yr and produces a range of products including DAP and NPKs, as well as Tata's bulk and non-bulk fertilizer trading business.