Indian government approves urea project investment policy

The Indian government has approved the country’s long-awaited urea investment policy, designed to encourage companies to build production plants and expand existing units. 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 urea capacity, which would ease supply shortages. India consumes 30 million m.t./year of urea, of which 22 million m.t./year are produced domestically. India’s fertilizer ministry, under the new policy, has recommended a...

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