Policy aims to incentivise fertilizer cos to set up new plants

The Cabinet Committee on Economic Affairs (CCEA), on Thursday, approved a urea investment policy, which is likely to incentivise fertilizer companies to set up new plants and expand existing capacity. India imports over 30 per cent of its urea requirement and the policy aims at reducing that. But it is unlikely to have any impact on existing prices. “The new urea investment policy has been cleared,” sources said after the CCEA meeting here.