New Delhi, October 06, 2013: Indian and African companies should form joint ventures for setting up fertiliser units in the continent as it will help both the regions to enhance agriculture production, said an industry official.
“Companies of both the sides should form joint ventures in setting up of units,” Sun International Chairman Vikramjit Singh Sahney told PTI here.
Sahney was one of the members of India-Africa Business Council. He was here to attend the second meeting of the council, with Indian industry body Ficci as a partner. Sun International is involved mainly in trading of fertilisers and intermediates besides agriculture commodities.
He said countries in Africa like Ghana and Nigeria have gas reserves while huge phosphate rock deposits are there in South Africa and Togo. Potash deposits are also present in several parts of the continent.
Sahney also said India can help Africa in enhancing agriculture production.
“India has modern technology in fertiliser production. Agriculture production in Africa has stagnated and its population is increasing. India can also help in introduction of good management practices in agri sector,” he added.
Besides, he said Africa offers huge scope in contract farming.
“India can harness the vast potential of natural resources of Africa and help Africa to fight food insecurity,” he said.
Indian companies such as Indorama Eleme Petrochemicals Ltd have already firmed up plans to set up fertiliser units in African nations.
India is also in talks with resource-rich Algeria to manufacture of nitrogenous fertilisers.
In 2010, India and Ghana had signed the Memorandum of Understanding to set up the urea plant with initial capacity of 1.2 million tonne per annum at Shama district in western Ghana. –business-standard.com
