A joint venture agreement (JVA) has been signed between NTPC Ltd and Coal India Ltd for the formation of a joint venture company that will restore Fertilizer Corporation of India Ltd’s (FCIL) fertilizer plants in Sindri, Bihar, Gorakhpur and Uttar Pradesh.
It will do this by setting up an ammonia urea plant at each of these locations.
The JV company would initially be incorporated with equal equity (50:50) participation from NTPC and CIL. JVA contains provision of inducting strategic partners at a later date depending upon business requirement of the JV company.
The JVA was signed by Shri Arun Kumar Gupta, General Manager (BD) from NTPC and Shri T. Bandopadhyay, General Manager (Coal Videsh) from Coal India Ltd in the august presence of Shri A. Panda, Director (Finance), South Eastern Coal Field Ltd (SECL). Shri M. Viswanathan, Company Secretary, Coal India Ltd and Shri Murari Prasad, AGM (BD) were also present on the occasion.
Edited from press release by Harleigh Hobbs
Read the article online at: https://www.worldcoal.com/coal/22062016/ntpc-and-coal-india-helping-revive-fertilizer-plants-in-india-1008/