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Matix waits GAIL lifeline
May 14: Matix Fertilizers is banking on the commissioning of GAIL India’s Pradhan Mantri Urja Ganga pipeline for restarting its idle coal-bed methane-fired fertilizer plant.
8The company which started defaulting on its Rs 4,305 crore loan exposure was recently dragged by IDBI Bank to the National Company Law Tribunal after it was rated as a defaulter by rating agency, CARE, and its plant has been lying closed for want of feedstock.
8The promoters were promised gas from the Essar CBM field but not enough gas was produced to keep the plant running
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