Coal India, GAIL, and RCF to invest Rs 3,095 crore in fertilizer Joint Venture

18 Oct 2023 , 10:04 AM

Coal India, GAIL India, and Rashtriya Chemicals & Fertilisers (RCF) will spend Rs 3,095 crore ($371.90 million) in their Odisha fertilizer joint venture.

According to the sources, GAIL and RCF would contribute 17.3 billion rupees, while Coal India will pay 13.64 billion rupees to maintain their present ownership in Talcher Fertilisers, adjusted for an increase in project expenses.

Each of the three companies owns a 31.85% stake in Talcher Fertilisers.

According to the sources, Coal India would require federal cabinet approval for the injection because the business has reached its investment cap, and the cabinet is expected to make a decision in the coming weeks.

The government is attempting to enhance the output of Talcher Fertilisers in order to lessen India’s reliance on imports of nitrogen-based urea fertilizers.

 

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