Summary
Indian Oil Corporation (IOCL), Fertiliser Corporation of India (FCIL) and Hindustan Fertiliser Corporation of India (HFCL) were roped in to a joint venture to revive Sindhri and Gorakpur urea units of Fertiliser Corporation of India. This joint venture will also revive the Barauni unit of HFCL, it has been recently decided.
Initially, NTPC and Coal India formed a 50:50 joint-venture to revive the Sindhri and Gorakpur fertiliser units. Subsequently, on the direction of the government, three new shareholders were inducted into the special purpose vehicle formed which will also revive the Barauni unit along with the Sindhri and Gorakpur units.
According to......