Oil India Board Meet: PSU to hold 18% equity in JV for Fertilizer Plant
Oil India Ltd approves 18% equity in Namrup IV Fertilizer Plant JV in Assam. Board decision on new Ammonia-Urea complex.
A Maharatna Oil PSU Firm, Oil India Ltd has announced that its Board of Directors of the Company in its Meeting held i.e. on Wednesday, 07'n May, 2025, has accorded its approval for 18% Equity Participation in the proposed Joint Venture Company for setting up of a new Ammonia-Urea Complex, Namrup lV Fertilizer Plant at Namrup, Assam.
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Additionally, the company will be incorporating a Wholly Owned Subsidiary (Finance Company) at GIFT City, Gujarat, to carry on the business in accordance with the IFSC rules and regulations as amended from time to time, subject to approval of DIPAM and applicable regulatory approvals including RBI / IFSC Authority / SEZ Authority and any other Authority, as may be required.
Shares of Oil India Ltd are trading higher by 2.17% at Rs 406.90.
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