Union Fertilizer Minister M. K. Alagiri on Monday invited global firms to invest in the revival of closed urea units.
“With increased availability of gas, the government is also considering revival of closed urea plants. We welcome participation of the fertilizer industry across the world in this respect,” Mr. Alagiri said at a fertilizer conference here.
Five units of Fertilizer Corporation of India (FCIL) and three units of Hindustan Fertilizer Corporation (HFCL) are closed, as of now.
The government had constituted an Empowered Committee of Secretaries (ECOS) to evaluate all investment options for revival of the closed units of FCIL/HFCL and to make suitable recommendations for consideration of the government.
A consortium of PSUs comprising GAIL India, Coal India and Rashtriya Chemicals and Fertilizers (RCF) have expressed their intent to put up a fertilizer plant on coal-based technology at Talcher (unit of FCIL).
Similar proposal has also been received from Steel Authority of India Ltd. for revival of the Sindri unit and by Krishak Bharti Cooperative Ltd. (KRIBHCO) for revival of the Ramagundam unit.
Mr. Alagiri also said the domestic firms were being encouraged to enter into long-term joint venture cooperation with their foreign counterparts to make various fertilizers available to the farmers.
“For fertilizer security, we encourage and support the Indian fertilizer industry to acquire fertilizer assets abroad. We welcome initiatives in this regard,” Mr. Alagiri said.