Calcutta: Tata Chemicals will sell its Haldia fertiliser unit to IRC Agrochemicals, part of Indorama Corporation, owned by Calcutta-born NRI Prakash Lohia, for Rs 375 crore. The Telegraph had reported in April of Indorama evincing its interest in the fertiliser business of Tata Chemicals. The divestment by Tata Chemicals is in line with its strategic decision to focus on speciality chemical and food businesses, while continuing with inorganic chemicals and exiting the fertiliser business. R. Mukundan, managing director, Tata Chemicals Limited, said this move builds on its earlier announcement with regard to the sale of the urea business to exit the fertilisers businesses completely. "The company is pleased to have found a partner with long-term interest in the phosphatic and fertiliser business who would build this phosphatic business further."

Source: The Telegraph November 06, 2017 20:15 UTC