Madras Fertilizers Ltd (MFL) was promoted by GoI as a JV with AMOCO of US, who later sold out to National Iranian Oil Co. (NIOC) and GoI. Currently, GoI holds 58.74% in MFL, NIOC 25.44% and public 15.82%. MFL runs a naphtha-based ammonia-urea plant, with most of the output used by complex fertiliser plants. The main product, 17:17:17, is popular in South India and is the only product of its kind in the market. MFL commissioned a Rs 6014.3-mn plant in 1998 to improve energy efficiency and expand capacity by 55%. The naphtha price increase adversely affected MFL as the final product, NPK fertilisers are not covered by the retention pricing scheme. MFL has entered into a two-year agreement with IOC Ltd for supply of petroleum products.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
