Government plans new urea plant in Assam with outlay of Rs. 4,400 crore.

Public sector fertiliser firm BVFCL plans to set up a urea-ammonia plant with capacity of 8.64 lakh tonnes per annum in Assam in partnership with Oil India Ltd. OIL) and state government, entailing an investment of Rs. 4,400 crore.

According to sources, Brahmaputra Valley Fertilizer Corporation Limited (BVFCL) and the Assam government will have 11 per cent equity each in the joint venture, while Oil India Ltd. (OIL) will have 26 per cent stake.

BVFCL's is likely to contribute its share of equity by way of transferring the useful and equivalent tangible assets to the proposed joint venture, they added. All the three parties will be awarded equity in the project on nomination basis and the project will come up at the existing BVFCL premises in Namrup, sources added.

ET