Indian Farmers Fertiliser Cooperative (IFFCO), India's largest fertilizer producer, said it was suspending plans for a nitrogen fertilizer factory in Bécancour, Québec as its cost estimate exceeded $1.72 billion.

IFFCO and its Canadian partner La Coop fédérée, which had earlier estimated the project to cost C$1.6 billion, said they would look for partners to help build it.

IFFCO said in late 2012 it would partner the cooperative of farmers in Quebec to build the plant.