RCF to invest ₹865 crore in Maharashtra phosphoric acid plant

Synopsis Rashtriya Chemicals and Fertilizers Limited will invest Rs 865 crore to establish a new phosphoric acid plant. This facility will be located at the Thai Unit in Alibag, Maharashtra. The investment aims to boost the company's backward integration capabilities. RCF is a leading fertilizer producer in India. The project will be funded through a mix of debt and equity. New Delhi: State-owned Rashtriya Chemicals and Fertilizers Ltd (RCF) will invest Rs 865 crore to set up a phosphoric acid plant in Maharashtra. In a regulatory filing on Thursday, the company informed that its board has accorded in-principle approval for setting up a new Phosphoric Acid Plant with a proposed capacity of 300 tonnes per day at Thai Unit, Alibag, Maharashtra. The total investment required to set up this plant is about Rs 865.25 crore and this will be financed through a combination of debt and equity. The proposed plant is aimed at strengthening the company's backward integration. The RCF is one of the largest fertilizer manufacturers in the country. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. ...moreless (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. ...moreless