State-owned Coal India today said a supplementary joint venture pact has been signed for revival of Sindhi and Gorakhpur units of Fertilizer Corporation of India Ltd (FCIL) and Barauni fertilizer unit of Hindustan Fertilizer Corporation Ltd (HFCL).
The supplementary joint venture agreement was signed yesterday among Coal India, NTPC, Indian Oil, FCIL and HFCL.
"A supplementary joint venture agreement was signed on October 31, 20 16 at New Delhi among CIL, NTPC, IOCL (Indian Oil Corporation Ltd), FCIL and HFCL," Coal India said in a filing to BSE.
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In the joint venture agreement CIL, NTPC and IOCL each will hold 29.67 per cent shares and FCIL and HFCL together will hold remaining 10.99 per cent stake, it said.
Initially, a joint venture agreement was signed between CIL and NTPC for the revival of Sindhri and Gorakhpur units of FCIL. Subsequent to this, IOCL, FCIL and HFCL joined in the joint venture.
"In addition to the revival of Sindhri and Gorakhpur units, it has also been decided to revive Barauni Fertiliser unit of HFCL," it said.
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