Gujarat State Fertilizers & Chemicals (GSFC) is planning to acquire management control of Canadian potash miner -- Karnalyte Resources Inc -- by buying an additional 15-20% stake in the Toronto Stock Exchange-listed company. In this regard, the company will spend around Rs 150 crore.
The company had acquired 19.98 per cent stake in Karnalyte (Wynyard Carnallite Project) for Canadian $45 million (about Rs 250 crore) in 2013. This helped the Gujarat state PSU to secure good quality supply of potash from Canada.
The company is a leading manufacturer of quality products of Chemical Fertilizers and Industrial Products. The company’s manufacturing units is located at Kosamba, Sikka and Nandesari. It has marketing network spread across India in states like Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Daman and Uttar Pradesh.
