Zuari Agro Chemicals may ink deal for UAE phosphate plant by month-end.

Zuari Agro Chemicals, a Saroj Poddar-controlled Adventz Group company, may sign an agreement with the UAE Government to set up an integrated phosphate plant at Ras al-Khaimah.

The UAE Government will offer land, infrastructure as well as tax concessions for the port-based facility. The Rs. 5,300-crore company had entered into a preliminary agreement for the one-million-tonne facility in November 2012.

'We expect to sign the agreement on March 31. It will mean the government of Ras al-Khaimah giving its firm commitment to provide for land and other facilities for the project. Our job is limited to setting up the project and running it,' Group Chairman Saroj Poddar told Business Line.

Once the agreement is signed, Zuari will do a detailed feasibility study to finalise the project plan and estimated cost.

HBL