Govt gets dividend cheque of ₹12.55 cr from FAGMIL

New Delhi: Chemicals and Fertilisers Minister Mansukh Mandaviya on Tuesday received a dividend of 12.55 crore from FCI Aravali Gypsum & Minerals India Ltd (FAGMIL) for 2020-21 fiscal year.

The minister received the cheque from Brigadier Amar Singh Rathore, CMD, FCI Aravali Gypsum & Minerals India Ltd (FAGMIL), the Ministry of Chemicals and Fertilizers said in a statement.

Arun Singhal, Secretary (Fertilizers) was also present during the occasion.

Speaking on the occasion, Mandaviya appreciated the results and growth achieved by the company. He expressed hope that the company will grow exponentially and generate higher dividends in the coming years.

CMD Brigadier Amar Singh Rathore said that the company has been notified as a Private Exploration Agency in May 2022. The company plans to enter into mining of Rock Phosphate and Dolomite in near future, the ministry said.

In addition, the company also has plans to set up fertilizer production facility in Chittorgarh, Rajasthan, it said.

FAGMIL was incorporated in February 2003 consequent upon hiving off Jodhpur Mining Organization (A unit of Fertilisers Corporation of India (FCIL)).

It commenced operations with effect from 1 April 2003 with an authorised capital of 10 crore and paid up capital of 7.33 crore. The company has been continuously paying dividends for the last 18 years.

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