IBN signs agreement with Malaysian company for chemical fertilizer factory

The Investment Board, Nepal and a Malaysian company have signed an agreement to conduct a feasibility study to establish 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 chemical fertiliser factory- green ammonia and calcium ammonium nitrate. As per the 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.