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Union Government To Provide Loan To FACT

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Fertilizers and Chemicals Travancore (FACT), a Central Public Sector Undertaking in Kochi signed a Memorandum of Agreement (MoA) with the Union Government to get a loan of Rs. `1000 crores.

Union Government To Provide Loan To FACT

  • FACT has been facing financial issues for over a decade
  • The loan of Rs. 1000 crores comes as a relief to the organization when it needs to clear its debts and augment production.
  • It will aid the organization maintain its production levels to an optimum.
  • It needs to be repaid within five years with a moratorium of one year.

ABOUT FACT

  • Established: 1943
  • By whom: Sree Chithra Thirunal Balarama Verma
  • Business:
    • Manufacturing and marketing of Fertilizers, Caprolactum, engineering consultancy and fabrication of equipments.
    • Petrochemicals, Hydro metallurgy, chemicals and Pharmaceuticals
  • Business Units :

FACT