Coromandel looks overseas

摘要

Coromandel Fertilisers Ltd and its majority shareholder the Murugappa Group are reportedly considering developing ammonia and urea capacity outside of India, probably in the Middle East. Although there is no agreement yet on gas pricing, a 600,000 t/a ammonia and 800,000 t/a urea unit are under discussion, with the aim of finalising arrangements by the end of the year. The new plant would aim to come on-stream in 2013. Coromandel would be a majority shareholder in the joint venture with the host country and other international financial investors also taking stakes.