Joint review meeting for revival of closed fertiliser plants held
Union Minister for Chemicals & Fertilisers and Parliamentary Affairs, Ananth Kumar presided over a joint review meeting on revival plans for closed fertiliser projects under Ministry of Chemicals and Fertilisers, on Thursday.
Addressing the media after the meet, Ananth Kumar informed that with the revival of the fertiliser projects, Gorakhpur, Barauni, Sindri and Talcher, an additional annual production capacity of 75 LMT would be created, making India self-reliant in meeting the annual domestic demand of around 320 LMT, from being a net importer currently.
Financial allocations and the ground level work would start in 2017, and the five plants would become fully functional by 2020-21, he added.
The Talcher Unit is being revived by a consortium of PSUs, namely Rashtriya Chemicals & Fertilisers (RCF), Gas Authority of India (GAIL), Coal India Ltd., (CIL), and FCIL, by investing Rs 8,000 crore.
Indian Oil Corporation Ltd., (IOCL), CIL & National Thermal Power Corporation (NTPC), have registered a Special Purpose Vehicle (SPV) named Hindustan Urvarak & Rasayan Limited (HURL), for revival of closed urea plants of FCIL at Gorakhpur and Sindri; and of Hindustan Fertiliser Corporation of India Ltd., (HFCL) at Barauni, by an investment of Rs 20,000 crore.
An Inter-Ministerial Committee (IMC) has also been constituted to oversee the revival process.
Fertiliser stocks – Nagarjuna Fert, Deepak Fert, GNFC, GSFC and Chambal Fert are trading in green; whereas, Madras Fert, Fert and Chem, and Shree Pushkar are among slipping stocks on Friday, April 28, 2017, on the BSE.