The country´s cash-rich coal, power and oil firms will jointly invest nearly $3 billion to revive three mothballed fertiliser plants. India produced 24.5 million tonne (MT) of urea in the financial year ended March 2016, but also imported 8.5 MT to boost productivity at its farms, which account for about 15 per cent of its $2 trillion economy and employ three-fifths of its 1.3 billion people. NTPC Ltd, Coal India Ltd and Indian Oil Ltd will together revive three ailing fertiliser plants in eastern India, coal secretary Anil Swarup said. The Fertilizer Corporation of India Ltd will also be a partner in the venture.
Contact: The Fertilizer Corporation of India Ltd
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