IFFCO has signed an agreement with Canada based La Coop Federee to set up a urea plant at Becancour city in Quebec province of Canada.
The proposed plant will come up at an investment of $ 1.2 billion (approx Rs 6,350 crore) in the next two years. La Coop will act as co-investor and will distribute the product from this urea plant in its vast network of more than 175 stores of several regions of Canada. Work on the plant is expected to commence in 2014. Once, the company gets all the necessary approvals, the urea marketing is expected to commence in 2017.