Kribhco Chairman Chandra Pal Singh Yadav thanked the AP govt profusely in the 35th AGM for facilitating it in setting up a State of the art DAPS/Complex fertilizer plant with an annual capacity of 1.2 million MT near Krishanapatanam port on East Coast of India.
Yeterday only we received a letter from the Andhra govt in which it offered power at Rs 1 per unit for next 10 years, VAT exemption for next seven years and a host of other incentives, giving benefit to KRIBHCO of about Rs 500 crore,” he said.
Chandra Pal said KRIBHCO will set up a phosphoric and potassic fertiliser plant at Krishnapatnam in Andhra Pradesh with an investment of Rs 1,000 crore. This will be the first P&K fertiliser plant of Krishak Bharati Cooperative Ltd (KRIBHCO), which produces urea only.
The land has already been allotted by state government for the fertiliser plant. The annual capacity of the plant will be about 6 lakh tonnes tonnes and it will take 4-5 years for the project to become operational.
There are also plans to increase the capacity of this plant in the second phase and take the total annual capacity to 1.2 million tonnes per annum, Singh added.