New Delhi: The Cabinet Committee on Economic Affairs on Wednesday approved the proposal of the Department of Fertilizers for equity investment of Rs 1,033.54 crore at 29.67 per cent 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 cabinet committee was chaired by Prime Minister Narendra Modi.
“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 has been formed to set up a coal gasification based fertilizer project at Talcher in Odisha’s Angul.
The share of GAIL, CIL and RCF in the equity of TFL will be Rs 1,033.54 crore (+ 15%) based on the Capex of Rs 11,611.48 crore (+ 15%) for the Goal gasification based fertilizer plant.