Rashtriya Chemicals & Fertilizers (RCF) has formed a venture with Gujarat State Fertilizer Corporation (GSFC) and Faradast Energy Falat Company (FALAT) for the development of a 1.3 million tonne urea plant at Chahbahar in Iran. The project entails an investment of Rs 6,500 crore. The product will be shipped back to India.
Both, RCF and GSFC together have proposed to hold 51 percent while the balance 49 percent will be held by FALAT. However, talks are presently underway.