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Business EconomyPosted at: Sep 7 2018 3:22PM


Land to be leased out by FCIL, HFCL to HURL for period of 55 years

New Delhi, Sep 7 (UNI) Hindustan Urvarak and Rasayan Limited has executed land lease agreements and concession agreements with Fertilizer Corporation of India Limited (FCIL) and Hindustan Fertilizer Corporation Limited (HFCL).
HURL is a Joint Venture company of NTPC, Indian Oil Corporation Limited (IOCL), Coal India Limited (CIL) and FCIL/HFCL incorporated to implement the fertilizer revival projects at Gorakhpur, Sindri, and Barauni.

In order to facilitate HURL to set up the fertilizer projects at the three locations, the Union Cabinet had accorded its approval in respect of the land lease on August 9, as per which the agreements were signed and the land would be leased to HURL for a period of 55 years by FCIL/HFCL.

The revival of Gorakhpur and Sindri units of FCIL and Barauni unit of HFCL will ensure substantial investment in the fertilizer sector.
This will create job opportunities and also boost the economy of the eastern region/state of the country.
The revival of fertilizer units will also augment indigenous production of urea there by enhancing self-reliance in urea.
All the three new plants are currently under implementation and are expected to be commissioned in early 2021.

The signing of the documents was completed in the presence of Secretary (Fertilizers), Ms Bharathi Siva Swami Sihag and other senior officers of the department and HURL, FCIL, HFCL and PDIL, according to a statement here on Friday.

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Tags: #Land to be leased out by FCIL# HFCL to HURL for period of 55 years
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