NTPC, Coal India to revive Fertiliser Corporation plants

NTPC and Coal India Ltd signed a joint venture agreement to form a new company for revival of the fertilizer plants of Fertiliser Corporation of India Ltd at Sindri, Bihar and Gorakhpur, Uttar Pradesh.

The joint venture company will set up an ammonia urea plant at each location with a 50:50 equity holding from NTPC and Coal India. Subsequently, strategic partners can be inducted, an official statement said.

This is the second time in two years the Coal India Ltd is entering into a joint venture to revive plants in the fertiliser sector. Last year, Coal India Ltd had signed an agreement with GAIL (India) Ltd, Rashtriya Chemicals and Fertilisers Ltd and Fertiliser Corporation of India Ltd to incorporate a firm to set up and operate new ammonia urea complex in Talcher, Odisha.

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