RCF mulls billion-$ investment in Canada

RCF mulls billion-$ investment in CanadaState-owned urea producer Rashtriya Chemicals & Fertilisers (RCF) has confirmed its keen interest in making a billion-dollar investment in the potash mines of Canada to secure its raw material requirements.

Confirming the company's interest, RCF chairman & managing director

R G Rajan said, "We are keen to pick up potassium assets in Canada where the government had indicated that it will support us."

Mr. Rajan added RCF had already begun the process for issue of notice to invite tenders and would also soon appoint a consultant get advice on the potential investment.

Potassium, or MOP (muriate of potash), is the third most used fertiliser in India. But, it is largely imported from foreign countries.

RCF is primarily a urea producer, but it also sells bought-out fertilisers such as DAP, single super phosphate, and MOP, long with some sorts of imported urea. DAP and MOP are the fastest-growing fertilisers in India with a roughly growth rate of 13 per cent and 10 per cent, respectively.

Mr. Rajan also revealed that some representatives of the company recently visited the Republic of Togo in West Africa, and met with its president to convince him for investing in a rock phosphate mine of the country. He expressed hope that the deal with Republic of Togo for picking up stake in a rock phosphate mine would soon be completed. He said the deal would help the company in achieving its targets of DAP, phosphoric acid and SSP production in the near future.