PSU PRESS RELEASE
Govt approves revival of defunct Fertilizer Units in Gorakhpur Sindri and Barauni
NEW DELHI. The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni. These cinlude two closed urea units of Fertilizer Corporation India Limited (FCIL) at Sindri (Jharkhand) and Gorakhpur (Uttar Pradesh) and Barauni (Bihar) unit of Hindustan Fertilizers Corporation Limited (HFCL).
These three fertilizers units would be revived by means of Special Purpose Vehicle (SPV) of Public Sector Units (PSUs) namely, National Thermal Power Corporation (NTPC), Coal India Limited (CIL), Indian Oil Corporation Limited (IOCL) and FCIL/HFCL, through ‘nomination route’.
The setting up of new units at Sindri, Gorakhpur and Barauni will meet the growing demand of urea of Bihar, West Bengal and Jharkhand. It will also ease the pressure on railway and road infrastructure due to long distance transportation of urea from Western and Central Regions and thereby saving in Govt. subsidy on freight.
It will also accelerate the economic development of the region. Apart from growth of regional economy, this unit will create opportunities for 1200 direct and 4500 indirect employments.
Read Also : TPSSL partners with Indian Bank for affordable solar rooftop adoption in residential segment
News Must Read
- NTPC Green Energy Limited Inks MoU with Indus Towers Limited
- CIL’s capex up 6.5% to highest Rs.19,840 Crores in FY 2024
- SCOPE presents SCOPE PREMIER LEAGUE
- MCL Ib Valley Washery commenced commercial operation
- HAL bags Rs 65,000 Cr tender by Defence Ministry
- PSBs' growth output superseded Private Lending firms
- Northern Coalfields Limited CMD inspects Amlohri Area
- SCOPE organizes Public Sector Day celebrations
- IOCL Final Dividend Announcement Expected at April 30 Board Meeting
- Steel Cutting Ceremony of Indian Navy held at HSL Vishakapatnam