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Government of Karnataka, India, Okays Mangalore Chemicals & Fertilizers' Investment

4:14 AM MDT | July 15, 2011 | Natasha Alperowicz

Mangalore Chemicals & Fertilizers, the fertilizer subsidiary of the UB Group (Bangalore, India), owned by the entrepreneur Vijay Mallya, has received approval from the government of the Indian state of Karnataka to invest Rs4.83 billion ($108.5 million) in a urea manufacturing complex at Panabur, Mangalore region. The complex will also manufacture basic organic chemicals. The company did not say what the capacities of the new complex will be. Mangalore Chemicals & Fertilizers is the largest maker of fertilizers in the state of Karnataka. It currently has...

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