CIL, NTPC, Indian Oil in pact for revival of FCIL and HFCL units
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Kolkata: Coal India Ltd (CIL) on Tuesday said it signed a supplementary joint venture agreement on 31 October with NTPC Ltd, Indian Oil Corporation Ltd (IOCL), Fertilizers Corporation of India Ltd (FCIL) and Hindustan Fertilizers Corporation of India Ltd (HFCL) for the revival of Sindhri and Gorakhpur units of FCIL.
According to the BSE filing, CIL said that it has also been decided to revive the Barauni unit of HFCL.
According to the agreement, CIL NTPC and IOCL will each hold 29.67% shares, and FCIL and HFCL will together hold the remaining 10.99% shares in the venture.