No sooner has LCK announced that a binding agreement to build a 1.0mtpa urea plant could be finalized before the end of May, and IPL announces a urea Offtake Agreement that will benefit the company sometime in the next 5 years....maybe. Really? Corporate gymnastics at work.
IPL shareholders misunderstand my concerns about the IPL Board. When someone wrote 'When do the resignations begin' and later I said 'Betting jobs on Failure' I was responding to the fact that IPL walked away from a generous offer for their fertilizer business last year. Why dismiss an offer for a business that was going to come under serious competitive pressure domestically. It appears that the competitive threat is now weeks away from becoming a reality and this at a cost to IPL shareholders. As a result the Board will stay and the shareholders will live with the consequences of irresponsible decisions.
The Gymnastics have begun
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