FACT to monetise assets to fund projects.

Fertilizers and Chemicals Travancore, which has drawn up a list of long-term investments totalling roughly Rs. 7,000 crore, will monetise its assets to raise approximately Rs. 650 crore to scale up production of a phosphoric acid plant and to build new sulphuric acid and complex fertilizer plants at the Kochi division.

The Chairman and Managing Director Jaiveer Srivastava told a press conference that the public sector company would use its assets to raise money for the three projects, one of which had already received the environmental clearance. He did not divulge the details of how the company would go about raising the money.


THE HINDU