Cooperators connected to the fertilizer cooperative Kribhco went to Oman for a plant visit last week and were impressed by what they saw. The OMIFCO is a joint venture company of Indian and Oman firms. While the cooperative giants like IFFCO and KRIBHCO represent Indian stake-holders, Oman Oil Company SAOC is the host partner.
Impressed by the OMIFCO plant Sunil Kumar Singh, one of the Directors on the Kribhco board said to Indian Cooperative “the visit was quite fulfilling as we saw firsthand how the plant operates. We traveled 200 kilometer from Muscat to Sur Industrial Estate where the plant is located”, he added.
”It has been a journey of tremendous cooperation between all shareholders. The company is performing well and the stakeholders are highly satisfied with its performance,” said Sunil Singh.
The plant has completed more than ten years of its existence of commercial production and has been profitable to all the stake holders. According to sources, Indian partners have already got many times the amount they had invested in the form of dividend by now.
Kribhco leaders also met Indian Ambassador Indra Mani Pandey, an IFS officer of 1990 batch who is currently representing India in the Sultanate of Oman. Kribhco Chairman Chandra Pal Singh Yadav’s team included MD N. Sambasiva Rao, Sunil Singh and others who met Mr Pandey and discussed the issue of gas, among other things.
Readers would recall that the issue of gas supply at Oman has been problematic for the government of India. India’s agreement with Oman allows it to purchase all the urea produced by OMIFCO for 15 years at predetermined prices.
The OMIFCO is owned 50% by Oman Oil Company SAOC (OOC), 25% by Indian Farmers Fertiliser Cooperative (IFFCO) & 25% by Krishak Bharati Cooperative (KRIBHCO). The plant has the capacity to produce 1,750 T/D of Anhydrous Ammonia from 2 Ammonia Plants and 2,530 T/D of granular urea from 2 Urea Plants, claims its website.
It takes up alleviating environmental impact resulting from its operations as a top priority, it adds.