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Govt panel to submit road map for revival of fertilizer units

Govt panel to submit road map for revival of fertilizer units
PTI
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First Published: Mon, Jan 05 2009. 05 56 PM IST
Updated: Mon, Jan 05 2009. 05 56 PM IST
New Delhi: An Empowered Panel of Secretaries, set up to suggest models for the revival of closed fertiliser units at an estimated investment of Rs4,500 crore each, is expected to submit a road map to the Centre by March.
“We are doing the valuation of all assets and weighing various financial models. By March, we will come out with the road map of how to revive these units along with the valuation of their assets,” a top government official associated with the committee said.
At present, the panel is trying to determine the value of assets of these closed units and prepare a suitable model, keeping in mind the fact that the revival process could see joint participation of both private and public sector firms, he said.
The empowered committee is also looking at ensuring uninterrupted gas supply to these plants to attract investment for their revival. Gas availability is a key factor in the revival of any plant.
“We are also trying to get the gas supply agreement done for them. Once we do all these things then we can get some players from both private and public sectors interested in such projects,” the official said.
The Cabinet had, on 30 October, approved the setting up of an Empowered Committee of Secretaries under the chairmanship of Fertiliser Secretary Atul Chaturvedi to come up with possible financial models for the revival of the eight plants of the Fertiliser Corporation of India Ltd (FCIL) and the Hindustan Fertiliser Corporation Ltd (HFCL).
However, the job of reviving a plant at Barauni was awarded to a special purpose vehicle (SPV), comprising state-run National Fertilizers Ltd and Rashtriya Chemicals and Fertilizers, and co-operative major Kribcho. The empowered panel now needs to suggest models for the rest.
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First Published: Mon, Jan 05 2009. 05 56 PM IST