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The FACT (Fertilizers and Chemicals Travancore Limited) incorporated in the year 1943 was one of the first large scale fertilizer plants in India. Located at Udyogamandal, Kerala, FACT started production in 1947. Initially in the private sector promoted by the Seshasayee Brothers, FACT became a PSU in the year 1960 and towards the end of 1962, Government of India became the major shareholder of FACT.
From a modest beginning, FACT has grown and diversified into a multi-division/multifunction Organization with core activities in manufacture and marketing of Fertilizers and Petrochemicals, Design, Engineering & Consultancy and in Fabrication & Erection of Industrial Equipment and Engineering works.
The production and financial performance of the company for the period April-December 2014 shows a decline as compared to the same period in the previous year. During April-December 2014, the production of Factamfos was 449938 MT as compared to 493145 MT during April-December 2013. Similarly the production of Ammonium Sulphate for the period April-December 2014 was 67332 MT as compared to 130404 MT during April-December 2013. The financial results (provisional) for the period April-December 2014 shows a net loss of Rs. 264 crore as compared to Rs. 167 crore net loss during April-December 2013.
Department of Fertilizers comes under the ambit of Ministry of Chemicals & Fertilizers which is headed by a Cabinet Minister who is assisted by one Minister of State. The main objective of Department of Fertilizers is to ensure adequate and timely availability of fertilizers at affordable prices for maximizing agricultural production in the country. The main functions of the Department of Fertilizers include planning, promotion and development of the Fertilizers Industry, Planning and monitoring of production, import and distribution of fertilizers and management of financial assistance by way of subsidy/concession for indigenous and imported fertilizers. The department also administers 9 Public Sector Undertakings and one Multi-State Co-operative Society. For details of the PSUs & Cooperative, see link Fertilizers PSUs.
This Department has one attached office under it, viz., Fertilizer Industry Coordination Committee (FICC) headed by Executive Director. The FICC was initially constituted w.e.f. 1.12.1977 to administer and operate the erstwhile Retention Price Cum subsidy Scheme. For attaining greater internal efficiencies and global competitiveness, unit specific approach of RPS was replaced by a scheme called New Pricing Scheme (NPS) from 1.4.2003. The FICC continues under the New Pricing Scheme for administration of the Scheme for Urea. For more details on FICC see FICC link under organization set up. List of subjects allotted to the Department of Fertilizers as per Government of India (Allocation of Business) Rules, 1961 amended from time to time is given at Annexure