Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) has awarded a contract to Toyo Engineering India Private Limited (Toyo) for the supply of an Ammonium Nitrate-II plant on an Engineering, Procurement, and Construction (EPC) basis. The contract is valued at approximately ₹360 Crores and has a time duration of 20 months. This new plant will have a capacity of 480 MTPD (1,63,200 MTPA) and is based on INCRO technology, with Toyo having a tie-up with INCRO, S.A., Spain for process know-how and licensing. The installation of this plant is expected to enhance GNFC's capacity by approximately 94%, supporting the 'Make in India' campaign and fulfilling downstream requirements while adhering to environmental conservation commitments. The company confirmed that neither its promoters nor group companies have any interest in Toyo Engineering India Private Limited, and the transaction does not fall under related party transactions.