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Centre rules out closure of FACT

New Delhi: The Central government on Thursday said it would not close down the fertiliser major FACT (Fertilisers and Chemicals Travancore) in Kerala despite the public sector undertaking (PSU) incurring losses continuously, an announcement that brings relief to its 5,000 employees.

Replying to a supplementary in the Lok Sabha, Fertilizer Minister Ram Vilas Paswan said the government had already promised a Rs.200-crore revival package to the PSU and assured the House that FACT would not be closed down. He, however, said the company could not be in the black unless gas was made available to it from the upcoming LNG terminal in Kochi. FACT is currently running on liquid fuels, which have at least twice the cost of natural gas. . — PTI

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