GAIL, KRIBHCO explore $1.6 billion urea plant in Andhra Pradesh

GAIL (India) and Krishak Bharati Cooperative (KRIBHCO) have signed a pact with the Andhra Pradesh Economic Development Board to explore setting up a urea plant in the southern Indian state for about 135 billion rupees ($1.6 billion), the companies said on Thursday.

KRIBHCO, one of India's biggest fertiliser cooperatives, manufactures and markets urea and other crop nutrients.

The proposed project involves setting up a 1.27-million-ton-per-year urea plant at Mulapeta in Andhra Pradesh's Srikakulam district


The facility could create 300-400 direct jobs and around 1,000 indirect jobs, while the state government will facilitate land, infrastructure and potential incentives for the project

The deal comes as Andhra Pradesh attracts a string of large-scale investments, including Google's planned $15 billion AI hub and Reliance Industries' proposed $11 billion investment in data centre capacity alongside its joint venture partners

Separately on Thursday, Kia Corp's Indian unit said it would invest about $2 billion to build an additional manufacturing plant in the state, while Reliance unveiled plans for a $4.59 billion integrated underground coal gasification complex