Indian government approves new urea investment policy

The Indian government on Thursday approved the country’s long-awaited urea investment policy to encourage companies to build new plants and expand existing ones. The move is expected to lead to 350 billion Indian rupees ($6.45 billion) worth of projects being revived, resulting in the addition of 8 million m.t./year of new urea capacity, easing shortages. India consumes 30 million m.t./year of urea, of which 22 million m.t./year is produced domestically.   In the new policy, the fertilizer ministry has recommended a minimum of 12–20%...

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