NTPC companions Coal India to foray into fertilizer sector

New Delhi, May : State-run energy producer NTPC mentioned it had on Monday signed a three way partnership settlement (JVA) with state-run miner Coal India to revive crops of the Fertilizer Company of India Restricted (FCIL).

The three way partnership firm will take up the revival of FCIL crops at Sindri in Bihar and Gorakhpur in Uttar Pradesh by organising an ammonia urea plant at every location, stated an NTPC assertion.

The JV firm would initially be integrated with 50:50 fairness participation from each, but additionally “incorporates provision of inducting strategic companions at a later date relying upon enterprise requirement of JV firm”, it stated.

The JVA was signed by NTPC‘s basic supervisor (BD) Arun Kumar Gupta and Coal India’s basic supervisor (Coal Videsh) T. Bandopadhyay.

NTPC companions Coal India to foray into fertilizer sector