The Union Cabinet approved the establishment of a new Brownfield ammonia-urea complex at Brahmaputra Valley Fertilizer Corporation Limited (BVFCL) in Namrup, Assam On Wednesday.
This project aims to boost urea production in the region and the government will invest ₹10,601.40 crore.
The new complex, named Namrup-IV, will have an annual urea production capacity of 12.7 lakh metric tonnes (LMT).
The Cabinet has authorized the creation of this facility under a joint venture (JV) framework with a 70:30 debt-equity ratio, in line with the New Investment Policy, 2012, amended in October 2014.
The project is expected to be completed within four years.
Under the proposed JV, several key entities will hold stakes in the Namrup-IV project:
The equity contribution by BVFCL will be in the form of tangible assets.
The Cabinet also approved the NFL’s participation in the JV, exceeding the limits set by the Department of Public Enterprises (DPE) guidelines.
The Namrup-IV unit is expected to enhance urea production, particularly in the North-Eastern region of India.
The facility will help meet the growing demand for fertilizers in states such as Bihar, West Bengal, Eastern Uttar Pradesh, and Jharkhand.
By operating with greater energy efficiency, the project will contribute significantly to India’s goal of self-sufficiency in urea production.
Additionally, it will create both direct and indirect employment opportunities in Assam and surrounding areas.
The government will set up an Inter-Ministerial Committee (IMC) to monitor the Namrup-IV Fertilizer Plant.
This initiative aims to strengthen India’s fertilizer production capacity and meet the growing agricultural needs.
ALSO READ: Indian Railways Saves Over 640 Crore Litres of Diesel; Reduces CO2 Emissions
Mumbai Airport's Terminal 1 redevelopment will leave 91% of international traffic unaffected, while select airlines…
A hijack threat on a Mumbai-bound Air India flight at Kolkata airport triggered an emergency…
CMs Yogi Adityanath, Devendra Fadnavis and Pushkar Singh Dhami greeted people on Bhai Dooj, wishing…
The Sensex surged 1,167 points to 82,274.50, while the Nifty gained 307 points to cross…
Delhi recorded an overall AQI of 308 at 8:40 AM on Wednesday, with 29 monitoring…
At least six coaches and the locomotive of the Kolkata–Sairang Express derailed near Digaru railway…