Jaiveer Srivastava has assumed charge as Chairman and Managing Director of The Fertilisers and Chemicals Travancore Limited (FACT), Kochi. Mr Srivastava was the Chairman and Managing Director of Hindustan Prefab Limited from 1st August 2006. FACT is a central public sector undertaking under the administrative control of the Department of Fertilisers in Chemicals & Fertilisers Ministry. FACT is a multi-division organisation engaged in manufacturing and marketing of fertilisers and petrochemical product – Caprolactam, consultancy services and fabrication of equipment. It is one of the oldest fertiliser companies in India. The turnover of the company is more than Rs.3000 crore.