Indian Potash Limited on Monday signed an agreement with Israel Chemicals Limited (ICL) for the supply of Muriate of Potash (MOP) for the next five years.
An MoU between the two firms was signed in New Delhi. As per the deal, Israel Chemicals Limited has agreed to supply 6 to 6.5 LMT of Muriate of Potash to India yearly from 2022 to 2027.
Speaking on the occasion, Union Minister of Health & Family Welfare and Chemicals & Fertilizers, Mansukh Madaviya said, "India and Israel share an extensive economic, defence, and strategic relationship based on mutual trust and cooperation. The agriculture sector in India has huge potential and provides ample opportunities to collaborate and innovate. India and Israel should work together in the field of Research in Fertilizer sector so that it benefits the farming community".
He said that the Indian Government is committed to increase the agricultural production and income of farmers with judicious use of fertilizers and sought cooperation of the Israeli side in improving fertilizers use, the use of alternate environment-friendly fertilizers.
Congratulating on the signing of the MoU, the Minister said that it is an important step towards increasing the availability of MOP in the country. This will further propel agriculture production in the country thereby improving the lives of the farming community.
It has been a matter of great satisfaction that Israel Chemicals Limited (ICL) is also working with Indian Potash Limited (IPL) in operating a project titled "Potash for Life focused on achieving higher fertilizer use efficiency" with an aim to increase the income of farmers, he added.
Elad Aharonson, Global President, Israel Chemicals Limited, said Israel Chemicals Limited will be glad to be associated with the efforts being made in India and willingness to develop a deep association for improved technologies, logistics, and application in the area of downstream fertilizers.
( With inputs from ANI )
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