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Zuari Agro Chemicals Ltd (ZACL) has bought a 50 percent stake in its joint venture firm, Zuari Rotem Speciality Fertilisers from its partners Rotem Amfert Negev for about USD 2 million.
ZACL said in a regulatory filing that “Zuari Rotem Speciality Fertilisers Ltd (ZRSFL), which was a joint venture of the company, has become the subsidiary of the company with effect from December 11, 2015”.
Zuari Rotem Speciality Fertilisers has been a 50:50 joint venture between Zuari Agro Chemicals Ltd and the Israel-based Rotem Amfert Negev Limited.
In the Indian fertiliser sector, this was the first Indo-Israel collaboration.
