Mangalore Chemicals to get Rs 280 crore loan for ammonia plant
26th Aug 2021

Mangalore Chemicals and Fertilizers (MCFL) has completed the financial closure for term loans with Punjab National Bank, State Bank of India and ICICI Bank for a total debt of Rs 280 crore for upgradation of Ammonia plant. The approximate cost of upgrade of ammonia plant would be Rs 395 crore to be met with debt of Rs 280 crore and internal accruals of Rs 115 crore. The project is aimed at achieving reduction in energy consumption and increase in capacity of the plant.

Mangalore Chemicals & Fertilizers is the largest manufacturer of chemical fertilizers in the state of Karnataka.