Government signed Agreement to provide a loan of 1000 crore rupees to FACT

On 3rd  March 2016 Union Government signed a memorandum of agreement (MoA) to provide a loan of 1000 crore rupees to the Fertilizers and Chemicals Travancore Limited, 
Fertilizers and Chemicals Travancore Limited  is a Central Public Sector Undertaking (CPSU).As per this MoA, FACT will be getting a loan of 1000 crore rupees, to be repaid with interest within a period of five years, with a moratorium of one year.
The loan will be provided with an aim to revive the organisation which has been facing financial crunch for more than a decade.  
FACT is a CPSU based in Kochi and has business interests in manufacturing and marketing of fertilizers, caprolactam, engineering consultancy and fabrication of equipments.
Units of FACT include the two manufacturing divisions Udyogamandal Complex-UC and Cochin Division-CD, the consultancy unit FACT Engineering and Design Organization-FEDO, the fabrication division FACT Engineering Works-FEW and the Marketing Division. 
Incorporated in 1943, by Maharajah Sree Chithira Thirunal Balarama Varma, FACT is one of the oldest fertilizer companies of the country.