Cabinet nod for Rs 10,601-cr urea plant in Assam

New Delhi: The Union Cabinet on Wednesday approved setting up of a urea plant in Assam with an estimated cost of Rs10,601.4 crore as part of its effort to reduce import of this key crop nutrient and make India self-sufficient.

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal for setting up of a new Brownfield Ammonia-Urea Complex of 12.7 lakh tonnes annual capacity of urea production within the existing premises of Brahmaputra Valley Fertilizer Corporation Ltd (BVFCL), Namrup Assam.

The plant will be established with an estimated total project cost of Rs10,601.40 crore with debt-equity ratio of 70:30 through a Joint Venture (JV). The tentative overall time schedule for commissioning of Namrup-IV Project is 48 months, an official statement said.