Rashtriya Chemicals and Fertilizers (RCF), is planning to invest approx Rs 1,000 crore towards equity participation in its joint ventures for urea and ammonium nitrate plants at Talcher in Angul district of Orissa.
RCF, along with Coal India, GAIL and Fertilizer Corporation of India is contemplating setting up a Rs 6,000 crore fertilizer complex comprising 2,700 tonne per day ammonia plant; 3,850 tonne per day urea plant; 850 tonne per day nitric acid plant; and 1,000 tonne per day ammonium nitrate plant at Talcher, through coal gasification route as feed stock.
Rashtriya Chemicals and Fertilizers (RCF), will invest Rs 850 crore towards its equity participation in the proposed downstream project. In the second coal gasification upstream project, in a JV with GAIL and Coal India, estimated to cost Rs 3,000 crore, RCF will invest around Rs 150 crore. GAIL will be the major shareholder, while RCF and Coal India will have five per cent stake each.
The Talcher project is proposed to be done on a lumpsum turnkey (LSTK) basis. The project capital cost is estimated to be Rs 9,000 crore (including coal gasification). The selection process for lumpsum turnkey contractors for main plants has been completed. Approval of PIB/CCEA is expected be received soon. Environmental clearance for undertaking the project has been obtained.
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