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| Exchange Disseminated Time | Aries Agro Ltd has informed BSE regarding a Press Release dated February 21, 2011, titled "Amarak Chemicals FZC commences full scale Sulphur Bentonite Production in FUJAIRAH , U.A.E"
Press Release :
"Amarak Chemicals FZC, a Group Company of India's largest specialty plant nutrients Company, Aries Agro Limited, completed the set up of its second and final production Belt for the manufacture of Sulphur Bentonite in the Fujairah Free Zone. The inauguration of full scale production was carried out under the patronage of His Highness Sheikh Mohammed Bin Hamad Al Sharqi, Crown Prince of Fujairah, by his Highness Saif Bin Hamed Al Sharqi, Chairman, Fujairah Free Zone Authority, earlier today in the Al-Hayl Industrial Area, Fujairah Free Zone, Fujairah, U.A.E, His Excellency Sanjay Vemna, Counsel General of India to the UAE and the Chairman & Managing Director of the Aries Group, Dr. Jimmy Mirchandani were present on the occasion.
Sulphur is an emerging nutrient deficiency in crops and soils across the world and is proving to be a severe limiting factor affecting yields. Sulphur is largely required by oil seeds, spices and horticultural crops and currently there is an estimated need of 10 Million Tons of Sulphur in agriculture and this is expected to grow to 11.9 Million Tons by 2014 as per the Sulphur Institute, USA.
Speaking on the occasion Dr. Jimmy Mirchandani said, "We are extremely proud to have commenced full production at Amarak Chemicals FZC. Our capacity of 60,000 MT of Sulphur Bentonite, which contains 90% elemental sulphur, will be a significant contributor to partially overcome the deficiency of 9.6 Million Tons Sulphur that exists worldwide at present. Our primary markets for Sulphur Bentonite shall be Asia and the Middle East and we will soon extend marketing in parts of Europe".
He also added that "the largest deficit areas for Sulphur exists in Asia with India and China in the lead. India alone has a current deficiency of over 2 Million Tons of Sulphur and China's deficit in Sulphur is estimated in the range of 2.6 Million Tons. We believe, farmers need to double their usage of Sulphur from their current levels in order to secure optimum yields. We are confident that Amarak's Sulphur Bentonite will help combat the growing Sulphur deficit in the region."
The Aries Group also has another fully operational manufacturing plant in Sharjah, namely, Golden Harvest Middle East FZC having a product portfolio, which includes world class chelated micronutrients including chelates of Zinc, Calcium, Magnesium, Manganese as well as 100% soluble Boron (20% B). This Unit has been operational since October, 2008 and currently caters to India, the Middle East and the SAARC countries." |
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