New Delhi: State-owned Rashtriya Chemicals and Fertilizers Ltd (RCF) will invest Rs 865 crore to set up a phosphoric acid plant in Maharashtra.
In a regulatory filing on Thursday, the company informed that its board has accorded in-principle approval for setting up a new Phosphoric Acid Plant with a proposed capacity of 300 tonnes per day at Thai Unit, Alibag, Maharashtra.
The total investment required to set up this plant is about Rs 865.25 crore and this will be financed through a combination of debt and equity.
The proposed plant is aimed at strengthening the company's backward integration.
The RCF is one of the largest fertilizer manufacturers in the country.
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