Kathmandu, August 17: The debate has started again on the process of opening the chemical fertilizer factory, which has been in discussion for decades. Prime Minister KP Sharma Oli has expressed interest in moving ahead with the establishment of a fertilizer factory in the wake of the shortage of chemical fertilizers in the market.
After the shortage of fertilizers, PM Oli held discussions with government officials, including Agriculture Minister Ramnath Adhikari, Commerce and Supplies Minister Damodar Bhandari, a few days ago on the supply of fertilizers and the operation of industries producing fertilizers. The cost of setting up a chemical fertilizer factory is more than 100 billion rupees. The Indian Oil Corporation (IOC), owned by the Indian government, has shown interest in investing in the country’s fertilizer industry according the chief of the Nepal Oil Corporation.
Nepal Oil Corporation and Indian Oil Corporation (IOC) are interested in investing in the chemical fertilizer industry. Oil Corporation Executive Director Chandika Prasad Bhatta has informed PM Oli that IOC is also interested in investing in the fertilizer factory.
Bhatt said that IOC is ready to come as a strategic partner by leading the Oil Corporation and moving the factory forward. Heavy investment is required for the chemical fertilizer industry. The industry has to produce on a large scale. He said that foreign partners are needed for the market as the fertilizers produced are not only consumed in the country. “We have informed the Prime Minister that IOC has expressed its willingness to invest,” “Bhatt said, adding that the prime minister has asked to prepare an account of the fertilizer factory operation.”
The government has been giving subsidy of about Rs 28 billion annually on chemical fertilizers. Nepal imports fertilizer worth more than Rs 40 billion.
People’s News Monitoring Service.
Login to add a comment