New Delhi: The Cabinet Committee on Economic Affairs on Wednesday approved the proposal of the Department of Fertilizers for equity investment of Rs 1033.54 crore at 29.67 percent of the total project cost for setting up a Coal Gasification based fertilizer project in Talcher Fertilizer Ltd (TFL) by Rashtriya Chemicals & Fertilizers Limited (RCF).
“The revival of the Talcher project will ensure huge investment in the fertilizer sector from the Government through PSUs. This will create job opportunities and also boost the economy of the State and the eastern region. The revival of the fertilizer unit will also ensure increase in indigenous production of urea leading to greater self-reliance in urea,” an official release said.
TFL, a Joint Venture company of GAIL, RCF, CIL and FCIL was incorporated in November, 2015 with shareholding of 29.67 percent of GAIL, RCF and CIL each and 10.99 percent of FCIL to revive the Talcher Fertilizer Plant.
TFL has been formed to set up a coal gasification based fertilizer project at Talcher, District Angul, Odisha.
The share of GAIL, CIL and RCF in the equity of TFL shall be Rs 1033.54 crore (+ 15%) based on the Capex of Rs.11,611.48 crore (+ 15%) for the Goal gasification based fertilizer plant.