HIL invites JV investments in agrochemical projects in India

HIL invites JV investments in agrochemical projects in India

Hindustan Insecticides Limited (HIL), a Central public sector undertaking (CPSU) under the Department, is looking for expanding its business area and has sent proposals to Indian embassies and missions in China, Japan and South Korea for inviting interested agrochemical manufacturers in respective countries for investment in India for business tie-ups including contract manufacturing or plan-on-lease arrangement.

On the recent performance side, despite facing lot of hurdles due to COVID crisis, HIL is ensuring supply of essential chemicals such as DDT in health segments and seeds and pesticides in agriculture segments in various parts of the country.

During nationwide lockdown due to COVID-19, production has been affected in HIL’s units, However company has now shown a good sales performance during the last week ended on April 24, and sold 37.99 MTs of agrochemicals, despatched 97 MTs of DDT, executed an export order of 10 MTs of Mancozeb 80 percent WP to Peru. HIL has also drafted an agreement which has been shared with the Ministry of Agriculture for supply of Malathion Technical for Locust Control Programme.

For smooth running of its public sector undertakings (PSUs), Department of Chemicals and Petrochemicals has taken initiatives to overcome the hurdles posed by COVID-19 pandemic and has suggested them to strengthen their performance by exploring joint ventures with global enterprises looking for investments. The Department had advised that Indian corporates, especially PSUs under the Ministry of Chemicals and Fertilizers should try to convert COVID-19 adversity into an opportunity of attracting investments from abroad.

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