IFFCO to set up Nano Urea fertiliser plants in Argentina and Brazil

IFFCO has entered into a JV with Cooperar and INAES to set up a Nano Urea manufacturing plant in Argentina. Earlier, it signed an MoU for the same with OCB from Brazil.

IFFCO to set up Nano Urea fertiliser plants in Argentina and Brazil

New Delhi, 23 June 2021

The Indian Farmers Fertiliser Cooperative Ltd (IFFCO) will set up a Nano Urea Liquid-manufacturing plant in Argentina in partnership with Cooperar and INAES. Cooperar is the cooperative confederation of the Argentine Republic. Instituto Nacional de Asociativismo y Economía Social (INAES), or the National Institute of Associativism and Social Economy, is an agency dependent on the Ministry of Productive Development, Argentina.

According to a press release issued by the world’s biggest fertilizer cooperative IFFCO, the above three organizations entered into a Memorandum of Understanding (MoU) for manufacturing Nano Urea and other important matters related to cooperative growth and development. They will together analyze the feasibility of setting up a Nano Urea fertilizer-manufacturing plant in Argentina with mutual collaboration. They will also explore the possibility of cooperation in trade and investment in both the countries, in areas of mutual interest, including agrochemicals and agricultural inputs, to achieve sustainable development.

Earlier, the press release said, IFFCO signed an MoU for the same with OCB, the national apex organization for the cooperative movement in Brazil.

The Argentina MoU was signed by Ariel Guarco, President, Cooperar; Alexandre Roig, President, INAES; and Yogendra Kumar, Marketing Director, IFFCO in a virtual meeting in presence of various officials of all groups, said the release. Guarco is also the president of the International Cooperative Alliance (ICA), an alliance of around 111 countries across the globe with 320 cooperatives operating in various sectors.

Dr US Awasthi, MD, IFFCO, congratulated everyone and termed this is as a historic and great moment for both countries. He said that this was a special moment for IFFCO as well as Brazilian cooperatives as this would give more strength to the cooperatives in the world. He also said that this innovative product would benefit the farmers of both countries. 

According to the release, Awasthi said, “IFFCO Nano Urea Liquid is a sustainable solution for plant nutrition with higher nutrient-use efficiency, and (for) reducing soil, water and air pollution.” He added that it would have a “huge impact on (the) quality of underground water” and would lead to a “very significant reduction of global warming with a positive impact on climate change and sustainable development.”

The scope of the MoU will be offering opportunities to exchange ideas and develop business relationships, to carry out joint research and training activities along with educational visits for better understanding and opportunities. The same will also be expanded into other fields/areas of common interest with mutual consent.

The organizations will also share best practices, create mutual opportunities, offer visibility, develop professional relationships, and build resources for better service delivery, innovation and strengthening of cooperative ties between themselves and their members.

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