IFFCO MD Dr U S Awasthi has greeted the joint venture company of Indian and Oman firms OMIFCO on the completion of ten years. The MD tweeted his happiness “Congrats #OMIFCO for completing 10 yrs of glorious commercial production”.
Readers would recall that the issue of gas supply at Oman has been proving ticklish both for the government of India and the IFFCO. And this backdrops MD’s tweet “Vid board members #OMIFCO after celebrating 10yrs of commercial prod it is symbol of friendship between #Oman & #india,” has been welcomed back home.
In the June board meeting in which Dr Awasthi participated, he had expressed satisfaction on the performance of the JV leading to cheers among his followers.
Readers would recall that the government of India has been exercised over the issue of Oman raising natural gas price leading to a sharp rise in the price of fertiliser imported by India under a long-term off-take agreement.
India’s agreement with Oman allows it to purchase all the urea produced by OMIFCO for 15 years at predetermined prices. Thankfully the issue is over, commented a senior IFFCO official to this correspondent.
