NIOC Raises Stake in Indian Fertilizer Company 

The National Iranian Oil Company (NIOC) has increased its share in the Madras Chemical Fertilizer Company in India from 24.5% to 32%. The increase is the result of a decision by NIOC and the Indian Government to buy out the third shareholder in the company, Amoco of the US. Iran's participation in the Madras company, which produces 700,000 tons of urea and other fertilizers annually, dates from before the Iranian revolution.