CIL diversified into other sectors; invests in natural-gas based fertilizer plants
CIL has approved an aggregate investment of Rs. 2,295.96 Cr. as a part of its equity capital towards setting up of total three natural-gas based fertilizer plants
Representational Image/Reuters
New Delhi: According to the Union Minister of Coal, Mines Shri Pralhad Joshi, In 2016, with a view to enhance the food security of the nation, CIL Board accorded its approval for the formation of a joint venture company with NTPC, IOCL, FCIL, and HFCL, a Hindustan Urvarak & Rasayan Limited (HURL) for the revival of three defunct fertilizer plants of FCIL and HFCL.
However, India's largest coal producer CIL has approved an aggregate investment of Rs. 2,295.96 Cr. as a part of its equity capital towards setting up of total three natural-gas based fertilizer plants at Gorakhpur (UP), Barauni (Bihar), and Sindri (Jharkhand). The diversification proposals into above mentioned 03 areas, are currently under the feasibility study stage, as such no separate capital funds have been earmarked.
Further Back in December 2020, with a view to enhancing energy security and raw material security of the nation, the CIL Board accorded its approval for diversification into the following business areas:
- Solar Power Value Chain (Ingot-Wafer-Cell-Module)
- New & Renewable Energy (Non-Conventional)
- Aluminium Value Chain (Mining-Refining-Smelting)
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