The Cabinet is likely to discuss a proposal for revival of the three sick units of Fertilizer Corporation of India Ltd (FCI) situated at Sindhri (Jharkhand), Talcher (Odisha) and Ramagundam (Andhra Pradesh) tomorrow.
According to a senior official, the units had been declared sick in 2002.
However, the UPA government decided to revive the sick units of FCI after it came to power in 2004.
It approached the BIFR to work out a revival package. The BIFR gave its nod for the revival of the sick PSUs through a joint venture or SPV route. Officials said the revival process has been held up because the cabinet has to approve waiver of government loans and interest thereof to the sick units of FCI.
According to a senior official, the units had been declared sick in 2002.
However, the UPA government decided to revive the sick units of FCI after it came to power in 2004.
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The proposals to discuss revival package of other two units declared sick by BIFR in Gorakhpur (Uttar Pradesh) and Korba (Chhattisgarh) could also be discussed by the Cabinet, those in know of the development said. .
It approached the BIFR to work out a revival package. The BIFR gave its nod for the revival of the sick PSUs through a joint venture or SPV route. Officials said the revival process has been held up because the cabinet has to approve waiver of government loans and interest thereof to the sick units of FCI.
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