Chambal Fertilisers Signs 9-Year Purchase Deal With GAIL

Chambal Fertilisers and Chemicals announced on Wednesday that the company has signed a contract with GAIL (India) Limited for the purchase of gas and the contract, which will last for 9 years from the date of commencement.

The gas has been purchased mainly for their new urea plant being set up at the existing site at Gadepan, Rajasthan. However, the gas can also be used at the company's existing plants in Rajasthan.

The annual contracted quantity is 24,955 billion British Thermal Units (BTU) on Gross Calorific Value (GCV) basis.

The private sector fertilisers producer, Chambal Fertilisers on the NSE, inched up by over 1% at Rs 128 per share at 1053 hours. The stock has delivered 91% return in a period of one year and has outperformed the BSE Mid cap and Nifty Commodities over the same time span.

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