IBN signs agreement with Malaysian company for the establishment of chemical fertilizer factory

KATHMANDU: The Investment Board, Nepal and a Malaysian company have signed an agreement for conducting a feasibility study for establishment of a chemical fertilizer factory in Nepal.

IBN Chief Executive Officer Sushil Bhatta and Re-Nicola’s Managing Director Bomhidi Abdelali signed the contract from their respective sides amidst a programme on Wednesday. Re-Nicola is a Malaysian company.

Issuing a press release, IBN shared that the agreement was reached to establish a factory of chemical fertilizer- green ammonia and calcium ammonium nitrate. As per agreement, Re-Nicola is obliged to submit a detailed feasibility study within 24 months of agreement.

The chemical fertilizer factory would be established at Abukhaireni of Tanahu district. RSS