Fertiliser stocks soar as Sitharaman unveils new 12.7 L metric ton urea plant in Namrup
Guwahati, Feb 1: In a major announcement during the Union Budget 2025 for Assam, Finance Minister Nirmala Sitharaman, on Saturday, revealed plans for a new urea plant in the premises of Brahmaputra Valley Fertilizer Corporation Ltd (BVFCL) in Namrup with a capacity of 12.7 lakh metric tons per year. The new plant is part of a broader push to strengthen the agriculture sector, with Sitharaman also outlining initiatives to improve crop diversification, irrigation infrastructure, and farmer income. The announcement sparked a significant rally in the fertilizer sector, with shares of fertilizer companies rising as much as 4%, as investors reacted positively to the supportive measures for agriculture included in the Budget. Madras Fertilizers climbed by 4.01%, while Paradeep Phosphates saw a 4.08% gain. FACT experienced a notable surge of 3.66%, and National Fertilizers rose by 3.31%. Rashtriya Chemicals and Fertilizers (RCF) also posted a gain of 1.59%. This latest development builds upon earlier efforts to boost the fertilizer sector in Assam.