STATE-owned Coal India Limited, gas utility GAIL and fertiliser
majors RCF and FCIL will form a joint venture for revival of Talcher urea plant
in Odisha, Parliament was informed.
Earlier, there was proposal to form two joint ventures for
the revival of the ailing PSU in Odisha.
"A Memorandum of Understanding was signed amongst Gas
Authority of India Ltd (GAIL), Rashtriya Chemical Fertilizer (RCF), Food
Corporation of India (FCIL) and...
Coal India Ltd (CIL) on September 5, 2013 for
setting up of a surface-coal gasification based urea, ammonium nitrate and
chemical complex in the site of Talcher unit of FCIL through formation of two
joint venture companies," coal and power minister Piyush Goyal said in a
written reply to the Rajya Sabha.
But now, it is proposed to form one joint venture company,
the minister said. The minister added that the proposal to form JV company is
subject to technical and financial viability through preparation of a detailed
feasibility report (DPR).
"The proposed Joint Venture company is yet to be
registered," the minister said.
Coal Ministry agreed to allot a coal block to the proposed
joint venture company on formation of the same and finalisation of
techno-economic feasibility report.
The board of directors of Coal India Ltd had last year given
its in-principle nod for these JVs. A consortium of RCF, GAIL, CIL and
Fertiliser Corporation of India Ltd (FCIL) had agreed to invest Rs 8,000 crore
for the revival of this urea plant with a production capacity of 1.2 million
tonnes per annum.
An MoU was signed to form two separate joint ventures to
revive this plant and also build a power plant and coal washery facility at the
site.
The first JV would be for upstream coal gasification with
GAIL having a majority stake. The second JV would be for urea-cum-ammonia
nitrate complex with RCF and CIL being major stakeholders, CIL had said.
Earlier, minister for
chemicals & fertilizers Ananth Kumar held a joint review meeting on
September 26 on the issue of revival of the sicj PSU with MoS (independent
charge) petroleum Dharmendra Pradhan. Secretary in the ministry of coal and CMD
of Coal India Limited (CIL), secretary, department of fertilizers and other
officials were also present in the meeting. The minister said an investment of
about...
Rs 9,000 crore is proposed to be made towards reviving these
projects.
Ananth Kumar expressed the hope that the development and
extension of Jagdishpur –Haldia natural gas pipeline in the northern and
eastern regions and Dhabol- Bangalore pipeline in the southern region are
expected to give a fillip to fertilizer plants and other industries along their
way.
The Talcher Fertilizer Unit, which has been shut down in
2002, will start production from 2018, the minister said.
There are seven public sector undertakings (PSUs) in the
fertilizer sector having total of 23 manufacturing plants, and out of which
only six plants are in profit.
The PSUs which are operating in the fertilizer sector are
Rashtriya Chemicals & fertilizers (RCF), National Fertilizers Ltd (NFL),
Madras fertilizers Ltd (MFL), Fertilizers And Chemicals Travancore (FACT),
Brahmaputra Valley Fertilizers Corporation Ltd (BVFCL), Fertilizers Corporation
of India Ltd (FCIL) and Hindustan Fertilizers Corporation Ltd (HFCL). As many as ten fertilizer plants out of 23 operated by state-run companies are closed, while 7 others are suffering losses.
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