Gujarat State Fertilizers and Chemicals (GSFC) has launched two new products - calcium nitrate and boronated calcium nitrate in order to cut dependence on imports.

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The company has identified 21 new products, which are aligned with its core business, to manufacture in India, said Arvind Agarwal, CMD at GSFC in an interview to CNBC-TV18.

Domestic production of calcium nitrate, will reduce import of the same by 25 percent in the first year, said Agarwal, and by 60 percent over three years.

The company will also manufacture pharma and biotech intermediaries, Agarwal said, and that the lower gas price has enabled the company to restart its methanol plant in August.

Fertiliser sales have increased by 10 percent year-on-year (YoY) in the first half, and Agarwal expects a strong second half as well.

First Published:Oct 9, 2020 9:47 AM IST