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Zuari Agro Chemicals shelves plans for urea project in India

5:22 AM MDT | July 22, 2013 | Natasha Alperowicz

Zuari Agro Chemicals (Goa, India) has shelved plans to build a 50-billion Indian rupee ($839 million) urea manufacturing complex at Belgaum, Karnataka State, India, citing difficulties in acquiring land for the project. The company is currently in talks to acquire UB Group’s stake in Mangalore Chemicals & Fertilizers. Officials at the government of Karnataka say that the project has been put on the back burner because of land acquisition issues.   Zuari and the Karnataka government in 2010 signed a memorandum of understanding, which called for...

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