The government will soon announce new parameters for off-take of urea from overseas joint ventures.
The new norms include long-term buyback arrangements with joint venture companies in which Indian companies have at least 26% stake.
The quantity to be committed under the arrangements will be determined on the basis of average gap in demand and supply of indigenous urea for the last three years. The period of buyback arrangement will range from 5-15 years.
?However, off-take commitments will have ?take or pay? liability provisions,? a top official said.
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