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GAIL (India) and KRIBHCO signed a pact with the Andhra Pradesh Economic Development Board to explore a urea plant in Mulapeta, Srikakulam district. The proposed facility would produce 1.27 million tons of urea per year at an estimated cost of about 135 billion rupees ($1.6 billion).
The state government would provide land, infrastructure and potential incentives.
This is an early-stage exploration agreement, so it adds no near-term urea supply. Over the longer term, new Indian capacity could reduce import dependence and ease pressure on global urea prices.
economictimes.indiatimes.comReutersNov 12, 2026After 34 past bearish policy events, Urea moved a median -0.8% over 5 sessions (38% higher; middle half -3.3% to +1.8%), and -4.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
