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NTPC Ltd and Coal India Limited have formed a joint venture company, Hindustan Urvarak & Rasayn Limited, with 50:50 shareholding for the revival of Gorakhpur (Uttar Pradesh) and Sindri (Jharkhand) plants of Fertilizer Corporation of India Ltd. The JV will set up ammonia urea plants at both the sites. Last month, NTPC and Coal India (CIL) had signed an agreement for setting up a joint venture firm to revive Sindhri and Gorakhpur fertiliser plants, which will together produce 1.27 million tonnes of urea per annum.
“Pursuant to joint venture agreement dated May 16, 2016 signed with Coal India Limited, a joint venture company in the name of Hindustan Urvarak & Rasayn Limited, with 50:50 shareholding by NTPC & Coal India has been incorporated on June 15, 2016. The joint venture company shall take up revival of Gorakhpur and Sindri plants of Fertilizer Corporation of India Ltd by setting up ammonia urea plants at each locations,” said NTPC in a BSE filing on June 15, 2016.
As part of its strategy to shore up fertiliser production in the country, the government is planning to restart urea plants at Gorakhpur, Barauni (Bihar) and Sindhri. Three plants will receive the feedstock gas through the 2,000-km proposed Rs 10-000 crore Jagdishpur-Haldia gas pipeline, which is expected to be completed by 2019.
