Tata Chemicals to set up urea plant in Tripura

Tata Chemicals will set up a Rs.5,000 crore, gas-based ureaplant in northern Tripura in association with state-owned ONGC and Tripuragovernment, officials said here Tuesday.

ONGC Chairman Sudhir Vasudeva held a meeting with ChiefMinister Manik Sarkar in New Delhi Monday and discussed the matter.

"The ONGC CMD informed the Chief Minister that the TataChemicals has been chosen as the private partner to set up the fertilizerproject in northern Tripura," a state industry department official toldreporters.

The official said ONGC had initiated the process to set upthe fertiliser plant to meet the growing shortage of urea, the commonly usedsoil manure in the northeastern region.

Tata Chemicals is the market leader in the urea andphosphatic fertiliser segments.

ONGC had earlier sought expression of interest (EoI) fromcompanies with relevant experience and track record to be a partner in theproposed gas-based fertilizer plant.

According to an ONGC official, six Indian firms, includinggovernment-owned, were keen to participate in the first gas-based fertiliserplant of ONGC.

According to union Minister of State for Petroleum andNatural Gas R.P.N. Singh, it would take around 44-48 months to set up theplant.