Union Cabinet approves revival of the Sindri unit of the Fertilizer Corporation India

Union Cabinet has approved the revival of closed urea unit of Fertilizer Corporation India Limited (FICL) at Sindri in Jharkhand with an investment of 6000 crore rupees.
Decision in this regard was taken at Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
FICL’s Sindri unit was lying defunct and was not in operation along with its associated facilities since 2002.
Union government has taken this decision in order to meet the growing demand of urea in eastern states of India including Bihar, West Bengal and Jharkhand.
Starting this plant will also ease the pressure on railway and road infrastructure due to transportation of urea on long distance from Western and Central Regions. This unit will also create 500 direct and 3000 indirect employments in this region.
Apart from this decision, Union Cabinet also gave its nod for setting up of a new ammonia-urea complex at Namrup in Assam on Public Private Partnership (PPP) mode with an estimated investment of 4500 crore rupees.
This approved complex will have an annual capacity of 8.64 lakh metric tonnes and play key role in meeting the growing demand of urea in North-East, Bihar, West Bengal and Jharkhand. It will also accelerate the economic development of the region and open new avenues for the people of the North-East.

Month: Current Affairs - May, 2015