Mumbai: State-run Rashtriya Chemicals and Fertilisers Ltd plans to invest around Rs 10,000 crore over the next five years to revive its closed units, forge JVs and expand capacities, a top company official said.

"We plan to invest around Rs 10,000 crore in the next five years in various projects," RCF Chairman and Managing Director U S Jha told reporters on the sidelines of a seminar here. The company is mulling overseas joint venture opportunities in the Middle-East and South Africa, he said. "We are eyeing a joint venture abroad, mainly for establishing a plant for ammonia, urea and di-ammonium phosphate production," Jha said.

He, however, declined to divulge further details saying that it was premature to say anything at this stage. "We are just in talks with various companies. As and when we finalise a deal, we will announce it," he said. Apart from reviving its closed fertiliser units, RCF also plans to expand its Thar unit to 2.8 million metric tonnes per annum of urea from the present level of 1.7 million tonnes.

"Post-expansion, the capacity would stand enhanced to 2.8 million tonnes per annum of urea," Jha said. The expansion was likely to be completed by 2011-12 subject to availability of gas, he added.
Source : PTI