FACT Receives Government Nod to Manufacture DAP under NBS Scheme
FACT has received approval from the Government of India to manufacture DAP in its existing facilities under the NBS Scheme. This allows the company to claim subsidies, subject to meeting all necessary regulatory conditions and approvals.
The approval is significant as it allows FACT to utilize existing facilities for DAP production and claim subsidies, which is expected to have a positive financial impact. However, the full impact depends on obtaining further approvals and compliance with conditions.
The approval from the government to manufacture DAP under the NBS scheme is a positive development for the company, potentially leading to increased revenue and subsidy benefits.
Fertilizers and Chemicals Travancore Limited (FACT) has received intimation from the Department of Fertilizers, Ministry of Chemicals and Fertilizers, Government of India, regarding permission to manufacture Diammonium Phosphate (DAP) in its existing facilities at Udyogmandal, Kochi, under the Nutrient Based Subsidy (NBS) Scheme.
The Ministry has conveyed the approval of the Competent Authority to recognize the installed capacity for manufacturing and selling DAP. FACT will be eligible to claim subsidy under the NBS Scheme, subject to obtaining all necessary approvals and complying with the required conditions. The company is currently undertaking the necessary actions to fulfill these requirements.
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Fertilizers and Chemicals Travancore Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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