SOURCE: Industrial Info Resources

Industrial Info Resources

January 05, 2011 05:00 ET

Indian Farmers Fertiliser Cooperative to Expand Production Under 'Vision 2015' Corporate Plan, an Industrial Info News Alert

DELHI, INDIA--(Marketwire - January 5, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- State-owned Indian Farmers Fertiliser Cooperative Limited (IFFCO) (New Delhi, India) is planning to expand its production capacity under the company's Vision 2015 corporate plan. IFFCO is considering the construction of a $200 million potassium chloride plant in Bayovar, Peru. The company has become a 20% shareholder of Canadian company GrowMax Agri Corp Incorporated (Calgary, Alberta), which owns licenses for large potash deposits covering about 820 square kilometers in the Bayovar area. IFFCO aims to produce 250,000-500,000 tons per year of production in Peru by 2015. GrowMax, a subsidiary of Americas Petrogas Incorporated (TSV:BOE) (Calgary, Alberta), which is currently engaged in exploring onshore oil wells in Argentina.

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