GNFC Awards ₹360 Crore Ammonium Nitrate Plant Contract to Toyo Engineering India
GNFC awarded a ₹360 Crore contract to Toyo Engineering India for an Ammonium Nitrate-II plant on an EPC basis. The 20-month project will increase GNFC's capacity by ~94%. Toyo has a tie-up with Spain's INCRO for technology.
The contract involves a substantial amount of approximately ₹360 Crores and a significant capacity expansion of about 94%, which is expected to have a considerable positive impact on the company's future revenue and market position.
The company has secured a significant contract for a new plant, which is expected to substantially increase its production capacity and support national initiatives like 'Make in India'.
Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) has awarded a contract to Toyo Engineering India Private Limited (Toyo) for the supply of an Ammonium Nitrate-II plant on an Engineering, Procurement, and Construction (EPC) basis. The contract is valued at approximately ₹360 Crores and has a time duration of 20 months.
This new plant will have a capacity of 480 MTPD (1,63,200 MTPA) and is based on INCRO technology, with Toyo having a tie-up with INCRO, S.A., Spain for process know-how and licensing. The installation of this plant is expected to enhance GNFC's capacity by approximately 94%, supporting the 'Make in India' campaign and fulfilling downstream requirements while adhering to environmental conservation commitments. The company confirmed that neither its promoters nor group companies have any interest in Toyo Engineering India Private Limited, and the transaction does not fall under related party transactions.
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Gujarat Narmada Valley Fertilizers and Chemicals Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Gujarat Narmada Valley Fertilizers and Chemicals Limited. Read the original for the full detail.