Revival of FACT in Kochi

Q: Hi, Can you give some information about the revival of FACT in Kochi. What is the status of the funds there?

David Oomen Mathews, Kochi

20th March 2015

Real estate News in Kochi

kochi development

kochi growth

kochi realty updates

kochi infrastructure development

kochi investment

kochi real estate news 2015

kochi development authority

kochi fact

kochi fact revival

Follow Discussion

Also see discussions for

Kochi Real estate News Real estate News in Kochi

Replies (7)

Aggrieved over the indefinite delay in clearing the revival package for the cash-strapped company, the Save FACT Action Council has decided to re-launch its agitation. I think that there has been an assurance of the revival of the FACT and the revival package would be cleared soon.

Maria Nair, Kochi

27th March 2015

Comment

Recenly, I was informed that with hopes of financial assistance of Rs 991 crore sinking, the FACT is likely to launch joint ventures with other leading fertiliser manufacturers such as Krishak Bharati Cooperative Limited (KRIBHCO), Indian Farmers Fertiliser Cooperative Limited(IFFCO) and Rashtriya Chemicals and Fertilisers Limited.

Krishna gowda, Kochi

25th March 2015

Comment

You know, the government has not suggested this officially. But there are strong indications repeatedly to follow the option of JV and find funds. What we can understand is that there may be changes in the already announced Board for Reconstruction of Public Sector Enterprises (BRPSE)- cleared package.

Aadesh Chacko, Kochi

23rd March 2015

Comment

I came to know that the Union government is of the stand that it was ready to write off the liabilities of the fertiliser company, but the company has to generate funds for further operations by forming a joint venture (JV) with fertiliser, gas or steel companies.

Smitha Ravi, Kochi

22nd March 2015

Comment

The package which is under the consideration of the Union Government includes Rs. 441 crore loan and interest write off and Rs. 550 crore working capital. But, I also am of the opinion that according to the present conditions the package has to be revised.

Sathish Menon, Kochi

21st March 2015

Comment

I think that the Rs. 991 crores package would not be sufficient in the present conditions. The package will have to be revised. At least Rs 2000 crore is needed to revive the company now. The Rs. 991-crore package was prepared in 2013 and the situation has changed.

Rajeev Narayanan, Kochi

21st March 2015

Comment

While the clearance of a revival package for FACT is being delayed indefinitely, it is pointed out that the Rs 991-crore package which was prepared two years ago would not be sufficient now for revival of the cash-strapped fertiliser company which is struggling to survive.

Ayesha Bibi, Kochi

20th March 2015

Comment