Cash-rich public sector firms ONGC, NTPC and Coal India were today asked to adopt one shut urea plant each for revival which would cost about Rs 18,000 crore over the next four years.
Looking to cut import dependence by boosting domestic production, the government pushed cash-rich PSUs to take up Uttar Pradesh, Bihar and Jharkhand.
Prime Minister’s Office (PMO) called a high-level meeting of Fertiliser Minister Ananth Kumar, Oil Minister Dharmendra Pradhan and Power & Coal Minister Piyush Goyal to chalk out the revival plan which would hinge on availability of natural gas.
State gas utility GAIL India Ltd has been asked to expedite the pipeline from Jagdishpur in Uttar Pradesh to Haldia in West Bengal to provide connectivity to the shut urea plants at Gorakhpur in Uttar Pradesh, Barauni in Bihar and Sindhri in Jharkhand.
According to sources, ONGC will form joint venture with Hindustan Fertiliser Corporation Ltd (HFCL) for revival of urea plant at Barouni.
Fertiliser Corporation of India Ltd (FCIL) will form two separate joint ventures with CIL and NTPC for revival of Sindri and Gorakhpur respectively.
Source: PTI
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