MPEDA to organise Second National Seafood Skill Olympiad during Seafood Expo Bharat 2026 (See 'Corp Brief') India's Space and Biotechnology Sectors present new collaboration opportunities: MoS (See 'Corp Brief') IPR - After pronouncement of final judgment and decree under Order XX CPC, Court becomes functus officio and cannot grant liberty for post-decree impleadment of mirror/redirect/alphanumeric websites: HC (See 'Legal Desk') Office of Principal Scientific Adviser signs MoU with Data Security Council of India (See 'Corp Brief') Telangana strengthens Clean Cities Through Behaviour Change and Citizen Action (See 'Corp Brief') IPR - If essential and dominant feature of earlier mark is fully contained in later mark, and later mark is only pluralized form that conveys same meaning, later mark can be held deceptively similar: HC (See 'Legal Desk') JP Nadda To Release Guidelines For 'Anaemia Mukt Bharat Abhiyaan' Today (See 'Corp Brief') A&C - Restraint on alienation of assets cannot be imposed when such relief was neither specifically sought nor argued in Section 17 application: HC (See 'Legal Desk') Environment Minister inaugurates workshop on tiger reintroduction in Sariska (See 'Corp Brief') JP Nadda to unveil healthcare programme for children up to three years (See 'Corp Brief') A&C - Scope of scrutiny u/s 11 is confined to prima facie examination of existence of arbitration agreement & does not extend to adjudication of disputed questions of fact or law: HC (See 'Legal Desk') Dasheri, Chausa, Langra and Kesar showcase Rich Diversity of Indian Mangoes (See 'Corp Brief') FEMA - Statutory protection under Section 6(4) cannot be invoked to legitimise unexplained or inadequately accounted foreign exchange transactions: SAFEMA (See 'Legal Desk') Ease of Doing Business: Irritants eased out of FSSAI Licensing Regulations (See 'Corp Brief') SEBI - Failure to file Quarterly Activity Reports for multiple consecutive quarters constitutes violation of regulatory framework & attracts consequences prescribed under Regulation 35 of AIF Regulations, 2012: SEBI (See 'Legal Desk') AI, Nuclear, Space, Quantum tech to determine contours of future growth: MoS (See 'Corp Brief') SARFAESI - In absence of any adjudication by the DRT in determining the debt, statutory scheme permits reliance upon claim made by secured creditor for purpose of fixing pre-deposit: HC (See 'Legal Desk') Tech Innovation and disruption in Construction Industry (See 'CORP EINSICHT')

Print

HURL receives Rs 813 crore interest-free loan for plant revival project

Published: Apr 07, 2021

By TIOLCORPLAWS News Service

NEW DELHI, APR 7, 2021: THE Chemicals and Fertilisers Ministry on Tuesday handed over a cheque of Rs. 813.24 crore as interest-free loan to State-owned Hindustan Urvarak and Rasayan Ltd (HURL) for the revival of its Gorakhpur, Sindriand Barauni projects

Minister for Chemicals and Fertilisers Mr DV Sadananda Gowda said the loan will further strengthen HURL's financial condition during COVID-19 and assist it to complete its project in time.

The Cabinet Committee on Economic Affairs (CCEA) had approved the revival of Gorakhpur and Sindri units of Fertiliser Corporation of India Ltd (FCIL) and the Barauni unit of Hindustan Fertiliser Corporation Ltd (HFCL) in 2016.

The operationalisation of the plants will reduce the import dependency on urea by 38.1 lakh tonne per annum and save foreign exchange, said the minister. The capacity of each plant would be 12.7 lakh tonne per annum.

HURL was incorporated as a Joint Venture (JV) of State-owned National Thermal Power Corporation (NTPC), Indian Oil Corporation Limited (IOCL), Coal India Limited (CIL) and FICL to revive the plants by end of 2021

The Centre approved a grant of interest-free loan to the tune of Rs. 1257.82 crore to HURL –Rs. 422.28 crore for Gorakhpur (Uttar Pradesh), Rs. 415.77 crore for Sindri (Jharkhand) and Rs. 419.77 crore for the Barauni (Bihar) project.

The Gorakhpur plant is nearing 89 per cent completion, Barauni is at 85.1 per cent and Sindri at 86.1 per cent as on February 28, 2021.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.