India-Russia Joint Urea Plant Agreement Signed

Uralchem, a big company that makes fertilizers, has teamed up with three Indian companies to build a large urea plant in Russia.

The plant will make a lot of urea every year, which is important for farming.

The Indian companies will help pay for the project, and Uralchem will provide the ammonia needed to make urea.

They are still figuring out the details, but this is a big step in their partnership.

Uralchem thinks India is a very important market for fertilizers and wants to work more with Indian companies.

This project is part of their long-term plan to work together.

The plant is expected to start operating in 2027-28 and will cost about $1.2 billion.

India will have the first right to buy at least half of the urea produced.