Updated By: LatestGKGS Desk
Cabinet approved Concession Agreements & Land Lease Agreements for revival of units
Union Cabinet approved Concession Agreements & Land Lease Agreements for revival of units: Details, Highlights
The Union Cabinet approved the proposal to provide land on lease to Hindustan Urvarak & Rasayan Limited (HURL).
The cabinet also approved to provide the Concession Agreements & Land Lease Agreements for the revival of Gorakhpur & Sindri units of
Fertilizer Corporation of India Limited (FCIL) and Barauni unit of Hindustan Fertilizer Corporation Limited (HFCL) by HURL.
The approval also authorised the Inter-Ministerial Committee (IMC) to approve Substitution Agreements and approve other agreements, if any, to be signed between FCIL/HFCL and HURL for the three projects at Gorakhpur, Sindri, and Barauni.
The revival of Gorakhpur, Sindri and Barauni units of FCIL/HFCL will ensure substantial investment in the fertilizer sector.
These units will act as anchor customer to Jagdishpur-Haldia Pipeline (JHPL) gas pipeline that is being laid for the development of critical infrastructure in Eastern India.
