IBC - New Regulation mandates IRP to offer choice of 3 IPs (See 'Corpbreif') Paswan urges States & UTs to fully implement One Nation One Ration Card scheme (See 'Brief') MyGov announces winners of ‘AatmaNirbhar Bharat App Innovation Challenge' (See 'Brief') Minister launches Online Exit Exam system for seafarers (See 'Brief') NFL total fertilizer sale reaches all-time high at 18.79 Lakh MT in April-July (See 'Corpbrief') Rural economy expected to bounce back after kharif season: RBI (See 'Brief') Amazon, Flipkart, Myntra and DMart tops Kantar ranking of customer experience, reflecting India's shopping preferences US President issues order banning transactions with ByteDance Lupin's US-based subsidiary inks exclusive pact with ForDoz Pharma Corp for distribution of two complex injectable drug candidates that are in advanced stages of development Constitution of India - If there is liability against company, recovery can be made from its Director, unless specifically provided in governing statute or warranted by law: HC Arbitration & Conciliation Act - All issues raised, should be adjudicated by Sole Arbitrator, treating petition as petition u/s for interim measures: HC Major Port Trusts Act - It is duty of Port Trust to destuff every container that is entrusted to it, and return destuffed containers within short period: SC (See 'Legal Desk') Administration and Supervision of Investment Advisers (See 'Dashboard') Spicejet allowing passenger to book two seats or full row to make air travel safer and comfortable Indoco Remedies receives nod from US health regulator for Olanzapine tablets for treatment of schizophrenia and bipolar disorder Google deletes more than 2,500 YouTube channels tied to China as part of its effort to weed out disinformation

Gowda reviews progress of RFCL's Ramagundam project

Published: Jul 02, 2020

By TIOLCORPLAWS News Service

NEW DELHI, JULY 02, 2020: UNION Minister of Chemicals and Fertilisers Sadananda Gowda, held a meeting  yesterday in New Delhi with CEO Ramagundam Fertilizers and Chemicals limited (RFCL) to review the progress of construction works of  the project.

Speaking on the occasion the Minister observed that the project is near completion and he is hopeful that it will be ready for commercial production by October this year. He appreciated measures taken by RFCL to overcome challenges thrown by COVID pandemic. Once completed, the project will realize Prime Minister Narendra Modi's vision of making ‘Atma Nirbhar Bharat'. After commissioning, Ramagundam project along with other revival projects at Gorakhpur, Barauni, Sindri and Talcher will reduce the need for urea import by 63.5 LMT per annum.

RFCL is upcoming gas based urea unit of 12.7 Lakh MT per annum capacity at Ramagundam, Telengana. It is a Joint Venture Company (JVC) promoted by National Fertilizers Limited (NFL), Engineers India Limited (EIL) and Fertilizer Corporation of India Limited (FCIL). The foundation stone of the project was laid by Prime Minister Narendra Modi on August 7, 2016. Once completed, RFCL project will reduce India's dependency on imported urea, save foreign exchange and create jobs.

During the meeting, Mr Nirlep Singh Rai, CEO, RFCL gave a brief about physical progress of various works of the project, and said that the project is about 99 % complete. The work at the site got stalled during the lock down period for sometime but has resumed since May 03, 2020. Availability of manpower at site is a problem area, but management has adopted proactive measures to retain workers by providing free meals and accommodation to contract workers, and payment of wages during the lock down period.

Government of India had announced New Investment Policy (NIP), 2012 to facilitate fresh investment in urea sector and to make India self-sufficient in the urea sector. Under NIP, 2012, Govt of India is reviving the 5 closed fertilizer plants. The Five Public Sector Units under revival are:-

Ramagundam Fertilizers and Chemicals Limited (RFCL)

Talcher Fertilizers Limited (TFL)

Hindustan Urvarak & Rasayan Limited (Gorakhpur, Barauni and Sindri)

TIOL CORP SEARCH

TIOL GROUP WEBSITES