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CCEA approves Rs.1033.54 crore equity infusion in Talcher Fertilizers

ANI | Updated: Sep 19, 2018 17:36 IST

New Delhi [India], Sept 19 (ANI): An equity investment of Rs.1033.54 crore by state-owned Rashtriya Chemicals & Fertilizers Limited (RCF) in Talcher Fertilizer Ltd. (TFL) has been approved by the Cabinet Committee on Economic Affairs on Wednesday.
TFL, a joint venture of GAIL India Limited, RCF, Coal India Limited (CIL), and Fertilizer Corporation of India Limited (FCIL), was incorporated in November 2015 with a shareholding of 29.67 per cent of GAIL, RCF, and CIL each and 10.99 per cent of FCIL to revive the Talcher Fertilizer Plant.
The revival of the Talcher project will ensure huge investment in the fertiliser sector from the government through PSUs. This will create job opportunities and also boost the economy of the state and the eastern region.
Additionally, the revival of the fertilizer unit will also ensure an increase in indigenous production of urea, leading to greater self-reliance in urea.
TFL has been formed to set up a coal-gasification based fertilizer project at Talcher in Odisha.(ANI)