Govt looking at reducing interest rate on loan given to FACT

The government is "actively considering" lowering interest rate on the Rs 1,000 crore loan given to state-run fertiliser firm FACT for its revival and expansion of production capacity to one million tonnes this fiscal.

Kochi-based Fertilisers and Chemicals Travancore Ltd FACT), which is facing a liquidity crunch, currently produces about 6 lakh tonnes of NPK fertilisers such as aluminium sulphate with an annual turnover of about Rs 2,000 crore.

"FACT is asking for reduced interest rate on Rs 1,000 crore loan that the Government of India has sanctioned. We are actively considering it," Union Chemicals and Fertilisers Minister Ananth Kumar told

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)