PANAJI
The Competition Commission of India (CCI) has approved the acquisition of the Zuarinagar plant of Zuari Agro Chemicals Limited by Paradeep Phosphates Limited.
According to a release, the proposed combination envisages acquisition of Zuarinagar, Goa plant of Zuari Agro Chemicals Limited (ZACL) by Paradeep Phosphates Limited (PPL). As a result of the acquisition, PPL shall acquire business of developing and manufacturing urea and non-urea fertiliser products presently being carried out by ZACL at Zuarinagar.
PPL, part of the Adventz Group, is engaged mainly in the manufacture and sale of non-urea fertilisers, namely, di-ammonium phosphate (DAP) and NPK fertilisers. It also imports and sells Muriate of Potash (MoP).
ZACL, a public listed company, is also a part of the Adventz Group. It is primarily engaged in the development and manufacturing of fertilisers in India. It has manufacturing facilities at Zuarinagar, where it produces urea and non-urea fertilisers.
