Rashtriya Chemicals and Fertilisers (RCF) is conducting due diligence on a proposal to acquire a 25 per cent stake in a rock phosphate mine owned by Russian fertiliser maker Acron Group for $366 million.
The company has signed a confidentiality agreement with Acron Group to acquire 25 per cent equity in the Oleniy Ruchey rock phosphate mine in Russia. Rock phosphate is a key raw material in the manufacture of fertilisers like di-ammonium phosphate and single super phosphate. India imports over five million tonnes of rock phosphate every year, which accounts for over 90 per cent of the country’s annual requirement.
The phosphate project, located some 800 km away from St Petersburg, holds around 62 million tonnes of reserves. Acron began development activities on the project in 2008 and expects production to commence in the first half 2012. Acron has estimated the required investment under the first phase of the project at around $400 million, out of which $100 million has already been spent.crackcrack
| Company Name | CMP |
|---|---|
| National Fertilizers | 111.70 |
| Coromandel Interntl. | 1794.85 |
| Chambal Fert & Chem | 479.10 |
| RCF | 160.80 |
| Paradeep Phosphates | 106.25 |
| View more.. | |
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