Indian company offers to build fertilizer plant in Azerbaijan

Business Materials 28 July 2010 18:48 (UTC +04:00)

Azerbaijan, Baku, July 28 / Trend E. Ismayilov /

Indian Fertilizer Company shows interest in building a fertilizer plant on the basis of Azerbaijani gas in Azerbaijan, Indian Ambassador to Azerbaijan Debnath Shaw said.

"Taking into account India's high demand for fertilizers, Indian companies have offered to organize the production of fertilizers in Azerbaijan on the basis of Azerbaijani gas, as this is the cheapest way to get fertilizer," the ambassador said.

He said that fertilizer companies already operate in Oman and Algeria together with Indian companies. These enterprises also use local gas. Indian companies buy these products. If the Azerbaijani side agrees, the Indian company would like to create a similar plant in Azerbaijan.

Indian Fertilizer's proposal is being considered by SOCAR and other organizations, the ambassador said.

He said that India's annual demand for fertilizers is 5 million tons. About 3 million tons are provided by domestic production and import. India uses both nitrogen and ammonia fertilizers.

"Both parties will benefit if this project is implemented. This means an additional income and additional jobs for Azerbaijan and meeting the need for fertilizers - for India," Shaw said.