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Cabinet approves equity infusion of RCF in Talcher Fertilizers Ltd.

in National September 19, 2018 Comments Off on Cabinet approves equity infusion of RCF in Talcher Fertilizers Ltd. 687 Views

Newdelhi;19/9/18:The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has approved the proposal of the Department of Fertilizers for equity investment of Rs.1033.54 crore (+ ) @ 29.67% 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 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.

Background:

TFL, a Joint Venture company of GAIL, RCF, CIL and FCIL was incorporated in November, 2015 with shareholding of 29.67% of GAIL, RCF and CIL each and 10.99% of FCIL to revive the Talcher Fertilizer Plant.  TFL has been formed to set up a coal gasification based fertilizer project at Talcher, District Angul, Odisha.  The share of GAIL, CIL and RCF in the equity of TFL shall be Rs.1033.54 crore (+ 15%) based on the Capex of Rs.11,611.48 crore (+ 15%) for the Goal gasification based fertilizer plant.  GAIL and CIL are both Maharatna Public Sector Enterprises and their Board is competent to approve their equity investment in the Joint Venture company TFL.  RCF is a Miniratna company and its equity investment in the project is beyond the delegated financial powers of its Board.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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