The Competition Commission of India has approved the acquisition of the Zuarinagar plant of Zuari Agro Chemicals Ltd. (ZACL) by
Paradeep Phosphates Ltd. (PPL).
The board of ZACL approved the sale of the plant, located in Goa, earlier this year.
As a result of the acquisition, PPL shall acquire the business of developing and manufacturing urea and non-urea fertilizer products presently being carried out by ZACL at Zuarinagar.
PPL, part of the Adventz Group, is engaged mainly in the manufacture and sale of non-urea fertilizers, namely, diammonium phosphate and NPK fertilizers. It also imports and sells muriate of potash.
ZACL, a public listed company, is also a part of the Adventz Group. It is primarily engaged in the development and manufacturing of fertilizers in India.