Govt to invest Rs 10,500 cr on urea plants in J’khand, Assam

The Cabinet on Thursday approved revival of <g data-gr-id="13">closed</g> urea plant in Sindri, <g data-gr-id="29">Jharkhand,</g> and setting up of a new fertiliser plant in Namrup in Assam at a total investment of Rs 10,500 crore.

The 1.3 million tonnes (MT) plant at Sindri will be revived at an investment of Rs 6,000 crore, while Brahmaputra Valley Fertilizer's plant in Assam entails an investment of Rs 4,500 crore, Union Minister Ananth Kumar told reporters after the Cabinet meeting.

The Namrup plant will have an annual capacity of 8.64 lakh tonnes of urea.

The Cabinet also approved financial restructuring of Brahmaputra Valley Fertilizer Corporation by waiving the entire cumulative interest Rs 774.61 crore as on March 31, the Fertiliser Ministry said in a statement. "Namrup plant will be a joint venture between Brahmaputra Valley having 11 per cent share, Government of Assam having 11 per cent share and Oil India having 26 per cent share and the remaining 52 per cent will be globally bid," Fertiliser Minister Kumar said.