Revival of closed units of Fertilizer Corporation of India Limited
The
Cabinet Committee on Economic Affairs (CCEA) approved the proposal
regarding revival of five closed units of Fertilizer Corporation of
India Limited (FCIL) at Sindri, Talcher, Ramagundam, Gorakhpur and
Korba.
The CCEA approved the waiver of Government of India loan and
interest thereon amounting to Rs.10,644 crore. The CCEA approved
proposal for intercorporate loan of Rs.171 crore and commitment fee of
Rs.25 crore for FCIL to be given by PSUs involved in the revival of FCIL
units at Sindri, Talcher and Ramagundam. This would ensure positive
net worth for FCIL and enable FCIL to come out of the purview of BIFR,
and hasten the process of revival of closed units of FCIL.
The demand-production gap for urea in the country is projected
at around nine million tonne during the current plan period, which is
likely to go up further by at an average rate of 2-3% per annum. There
is a continuous import dependence of the country to bridge this gap.
Revival of closed units will ensure larger availability of indigenous
fertilizers in the country.
SH/NK
(Release ID :95895)
No comments:
Post a Comment