Nagarjuna Fertilizers proceeds with urea investment at Kakinada

Nagarjuna Fertilizers and Chemicals (Hyderabad, India) is going ahead with previously announced plans to build a urea plant at Kakinada, India, costing 45 billion Indian rupees ($821 million). The unit will be designed to produce 1.3 million m.t./year of urea and will raise Nagarjuna’s total to 2.9 million m.t./year. The company has awarded the engineering, procurement, and construction contract to Tecnimont, which owns urea process provider Stamicarbon. The project will be financed with a mix of debt and equity. Completion is scheduled for 2015–16. ICICI...

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