RCF to invest Rs1,000 crore for Talcher fertiliser project
3 Sept 2013 4:02 AM IST
Rashtriya Chemicals & Fertilizers will invest nearly Rs 1,000 crore towards equity participation in its joint ventures for urea and ammonium nitrate plants at Talcher in Orissa, a top company official said on Sunday.
‘We are investing around Rs 1,000 crore towards equity participation in our two joint ventures for Talcher project,’ RCF chairman and managing director R G Rajan said.
RCF, along with Coal India Limited, GAIL and Fertilizer Corporation of India is contemplating setting up Rs 6,000 crore fertilizer complex, comprising of 2,700 MTPD ammonia plant, 3,850 MTPD urea plant, 850 MTPD nitric acid plant and 1,000 MTPD ammonium nitrate plant at Talcher, Orissa, through coal gasification route as feed stock.
Rashtriya Chemicals & Fertilizers (RCF) will invest Rs 850 crore towards its equity participation in the proposed downstream project. GAIL will pick up 5 per cent stake and FCIL 11 per cent stake in the said project, Rajan said.
Coal will be made available by CIL from nearby coalfields of its subsidiary, Mahanadi Coal fields. Land and certain facilities needed for the project will be provided by FCIL.
Apart from being a project for feedstock diversification, it will also aid much needed urea production capacity for the eastern part of the country, he said.
In the second coal gasification upstream project in JV with GAIL and Coal India ,estimated to cost Rs 3,000 crore, RCF will invest around Rs 150 crore, Rajan said, adding that the GAIL will be major shareholder, while RCF and Coal India will pick up 5 per cent stake each.
The Talcher project is proposed to be done on Lump Sum Turn-Key (LSTK) basis. Project capital cost is estimated to be approximately Rs 9,000 crore (including coal gasification). A MOU amongst the proposed promoters has been signed, Rajan said.
‘We are investing around Rs 1,000 crore towards equity participation in our two joint ventures for Talcher project,’ RCF chairman and managing director R G Rajan said.
RCF, along with Coal India Limited, GAIL and Fertilizer Corporation of India is contemplating setting up Rs 6,000 crore fertilizer complex, comprising of 2,700 MTPD ammonia plant, 3,850 MTPD urea plant, 850 MTPD nitric acid plant and 1,000 MTPD ammonium nitrate plant at Talcher, Orissa, through coal gasification route as feed stock.
Rashtriya Chemicals & Fertilizers (RCF) will invest Rs 850 crore towards its equity participation in the proposed downstream project. GAIL will pick up 5 per cent stake and FCIL 11 per cent stake in the said project, Rajan said.
Coal will be made available by CIL from nearby coalfields of its subsidiary, Mahanadi Coal fields. Land and certain facilities needed for the project will be provided by FCIL.
Apart from being a project for feedstock diversification, it will also aid much needed urea production capacity for the eastern part of the country, he said.
In the second coal gasification upstream project in JV with GAIL and Coal India ,estimated to cost Rs 3,000 crore, RCF will invest around Rs 150 crore, Rajan said, adding that the GAIL will be major shareholder, while RCF and Coal India will pick up 5 per cent stake each.
The Talcher project is proposed to be done on Lump Sum Turn-Key (LSTK) basis. Project capital cost is estimated to be approximately Rs 9,000 crore (including coal gasification). A MOU amongst the proposed promoters has been signed, Rajan said.
Next Story
