Zuari fertilizers scraps Rs 5000 crore urea plant plan in Karnataka

Zuari Fertiliser and Chemicals Ltd, a wholly-owned subsidiary of Zuari Agro Chemicals Limited, has withdrawn a proposed Rs 5,000 crore urea plant in Karnataka, citing delay in land acquisition.

"Land acquisition has not happened for this project, so we have shelved this project," a senior official told media.

Adventz Group firm Zuari, which is in talks with UB Group Chairman Vijay Mallya to buy Mangalore Chemicals and Fertilisers, had inked pact with the Karnataka government for setting up the urea plant near Belgaum in north Karnataka.

Story first published: Tuesday, July 23, 2013, 9:31 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?