The government has approved an interim grant of Rs 200 crore to the ailing Fertilizers and Chemicals Travancore Ltd to help it sustain operations till the end of this fiscal.
The one-time interim grant for Fertilizers and Chemicals Travancore Ltd (FACT) was approved by the Cabinet Committee on Economic Affairs (CCEA), according to an official release.
"This would help FACT to recover the losses due to inadequate compensation for input costs and fertiliser products." it said.
FACT, the only fertiliser company operating in Kerala, has been facing tough times for many years.
Earlier, the government had said it was planning to revive certain public sector units by restructuring and modernising them and FACT was one of the companies selected for revival.
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