Public sector fertiliser giant Fertilisers and Chemicals Travancore Ltd (FACT) on Friday unveiled a ‘2020 Vision Plan’ under which the company will invest Rs 6,500 crore to achieve revenue of Rs 7,000 crore and profit of Rs 300 crore by 2020.

“We are going through a very rough patch. There is need to revamp the company and the mission is to turn it around,” said Jaiveer Srivastava, chairman and managing director of FACT.

“We have drawn up plans which involve diversification into new pastures, augmenting existing operations, massive use of gypsum, strengthening of FEDO (FACT Engineering and Design Organization) and FEW (FACT Engineering Works), scaling up of import and trading of fertilisers, switching over to LNG and putting up new plants,” he said.

As part of maximising production, the company plans to produce 20 lakh tonnes of fertiliser and achieve a trading level of 10 lakh tonnes within the next seven years. Capacity of the naphtha plant will be enhanced by adding 1,000 tonnes per day (TPD) stream and setting up 2,800 TPD ammonia – 3,500 TPD urea project, which is expected to cost Rs 4,700 crore to the company.

“The company has entered into an arrangement with Metals and Minerals Trading Corporation of India (MMTC) to import 2 lakh tonnes of complex fertilisers and potash to supplement own production and thereby enhance our presence in the market. FACT has also sought the allotment of 1 lakh tonne of urea during the current fiscal,” he noted.

The company is also looking at the prospect of marketing load-bearing gypsum panels, produced by FACT-RCF Building Products Ltd (FRBL), a joint venture between the company and Mumbai-based Rashtriya Chemicals and Fertilizers.

Towards the end of July, FACT will get LNG as feedstock, which could possibly be priced at $14.5 Million Metric British thermal units (MMBtu), Srivastava hinted. Compared to naphtha, LNG will be cleaner and cheaper, he added.

FACT, established in 1947, had incurred a loss of Rs 210 crore during the first three quarters of fiscal 2012 – 2013. Apart from changing market conditions, higher cost, scarcity of raw materials and ageing plants have contributed to the financial woes of the company. In the current fiscal, the company expects revenue of Rs 3,000 crore.

As part of generating steady revenue from the assets of the company, FACT’s Ambalamedu guest house will be converted into a ‘Centre for Excellence’ by investing Rs 5 crore to conduct conventions and management programmes.