The government has cleared a proposal to revive the sick fertiliser units in Gorakhpur, Sindri and Barauni through a special purpose vehicle of public sector units - Indian Oil Corporation, NTPC, Coal India Ltd and Fertiliser Corporation of India/Hindustan Fertilisers Corporation Ltd.
While the two closed units at Sindri (Jharkhand) and Gorakhpur (Uttar Pradesh) belong to the FCIL, the Barauni (Bihar) unit belongs to HFCL.
"These would be revived through a special purpose vehicle of public sector units (PSUs) - NTPC, CIL, IOC and FCIL/HFCL, through 'nomination route'," said Law Minister Ravi Shankar Prasad on Wednesday, adding that it will help meet the growing demand for urea in Bihar, West Bengal and Jharkhand.
NTPC and CIL had in May signed a joint venture agreement to form a new company for revival of the plants at Sindri and Gorakhpur, under which they would set up an ammonia urea plant at each location with a 50:50 equity holding.
Steps initiated to revive PSU fertiliser plants
By IndianMandarins - 2016-07-15 12:43:22
The government has cleared a proposal to revive the sick fertiliser units in Gorakhpur, Sindri and Barauni through a special purpose vehicle of public sector units - Indian Oil Corporation, NTPC, Coal India Ltd and Fertiliser Corporation of India/Hindustan Fertilisers Corporation Ltd.
While the two closed units at Sindri (Jharkhand) and Gorakhpur (Uttar Pradesh) belong to the FCIL, the Barauni (Bihar) unit belongs to HFCL.
"These would be revived through a special purpose vehicle of public sector units (PSUs) - NTPC, CIL, IOC and FCIL/HFCL, through 'nomination route'," said Law Minister Ravi Shankar Prasad on Wednesday, adding that it will help meet the growing demand for urea in Bihar, West Bengal and Jharkhand.
NTPC and CIL had in May signed a joint venture agreement to form a new company for revival of the plants at Sindri and Gorakhpur, under which they would set up an ammonia urea plant at each location with a 50:50 equity holding.
