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IFFCO teams up with Canadian Co
11 February 2010: Indian Farmers Fertilizer Cooperative (IFFCO) has joined hands with Canada based GrowMax Agri Corporation to make its foray into potash project and oil and gas exploration.
IFFCO has become a JV partner in GrowMax Agri Corporation which owns concessions over large potash deposits covering about 820 sq km in its Bayovar project in Peru.
IFFCO has a 20 per cent shareholding in GrowMax and about 10 per cent stake in Americas Petrogas with representation on the board of GrowMax. IFFCO will have an offtake agreement for 50 per cent of potash to be produced from the Peru project.
Source: Hindu