National Fertilizers gains 2.5% on contract to build nitrogen tetroxide plant
Product (N2O4) will be exclusively supplied to SDSC-SHAR under long term agreement for 25 years period.
National Fertilizers share price gained 2.5 percent intraday Tuesday on bagging contract from space centre in Sriharikota to build nitrogen tetroxide plant.
"... has received letter of intent (LOI) from SDSC-SHAR (Satish Dhawan Space Centre, Sriharikota) for establishing Di-nitrogen tetroxide (N2O4) production plant on build, own, operate & supply model," the company said in its filing.
Project will be set-up at NFL Vijaipur plant in Madhya Pradesh. The plant capacity will be around 1095 MT N2O4 per annum and product (N2O4) will be exclusively supplied to SDSC-SHAR under long term agreement for 25 years period.
National Fertilizers says project activities will start around July 2017 with a gestation period of 18 months and estimated capex requirement will be around Rs 350 crore.
At 14:21 hours IST, the stock price was quoting at Rs 79.30, up Rs 1.15, or 1.47 percent on the BSE.Posted by Sunil Shankar Matkar