Kerala - Kochi   

Paswan to lay stone for FACT-RCF venture

KOCHI: Fertilisers and Chemicals Travancore (FACT) will open a new chapter in its history on Saturday with Union Minister for Fertilizers Ram Vilas Paswan laying the foundations for a Rs.80-crore joint venture between Rashtriya Chemicals and Fertilizers (RCF) and FACT for producing phosphogypsum-based wall panels using a technology from Rapid Building Systems, an Australian company.

At the same function, Chief Minister V.S. Achuthanandan will open to the public a demonstration unit built with the gypsum-based wall panels. Several Ministers, including Industries Minister Elamaram Karim, will participate in the function, which is being seen as opening up a new beginning for one of Kerala’s oldest public sector units.

The FACT-RCF joint venture is the first in a series of projects the fertilizer company plans to take up in the immediate future.

FACT will tap its vast land bank and human resource base for a more robust future through new joint ventures with several public sector companies, including one between Indian Oil Corporation (IOC) and FACT Design and Engineering Organisation (FEDO).

The struggling fertilizer PSU will also sign a memorandum of understanding with Indian Potash Ltd. to ensure timely and cost-effective supply of raw materials over the next three years. It is learnt that Indian Potash will supply key raw materials to FACT on a credit basis with the backing of a letter of comfort from the Department of Fertilizers. FACT had struggled throughout 2007-08 because of shortage of sulphur. The signing of the MoU with IOC will see the oil company taking control of FEDO, which has a large reservoir of experienced engineers.

Similarly, Cochin Shipyard Limited (CSL) will take control of FACT Engineering Works (FEW) with an MoU being signed on Saturday.

The fertilizer company will also use its land reserves to start two new joint ventures. The first in the line is a container freight station in collaboration with the Container Corporation of India. Fifty acres has been earmarked for the purpose, a FACT spokesman said.

FACT will enter into a joint venture with the Warehousing Corporation of India for starting a free trade warehousing zone in Kochi. About 100 acres has been earmarked for the purpose.

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