The Union Cabinet on Thursday approved the revival plan for fertilizer plants in Gorakhpur (Uttar Pradesh), Sindri (Jharkhand) and Barauni (Bihar) by Hindustan Urvarak and Rasayan Limited (HURL).
"The revival of Gorakhpur, Sindri and Barauni units of Fertilizer Corporation of India Ltd (FCIL)/ Hindustan Fertilizer Corporation Ltd (HFCL) will ensure substantial investment in the fertilizer sector," said an official statement.
HURL is a joint venture company of Coal India Ltd, NTPC Ltd, Indian Oil Corporation Ltd, Fertilizer Corporation of India Ltd and HFCL. It was incorporated in 2016 to revive the three fertilizer units.
"These units will act as anchor customer to Jagdishpur-Haldia ... gas pipeline being laid for development of critical infrastructure in eastern India," it said.
This will create job opportunities in the region and boost the economy of the eastern states. Further, the revival of fertilizer unit will also augment indigenous production of urea, thereby enhancing self-reliance in urea, it added.
The revival plan includes providing land on lease for a period of 55 years at a nominal lease rent of Rs 1 lakh per annum to HURL and concession agreements for the three projects.
The concession agreements will help HURL to carry out complete design, engineering, construction, procurement, testing, commissioning, operate and maintaining fertilizer plants and market its products.
--IANS
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