Chouhan launches 'Khet Bachao Abhiyan' from Raisen, MP (See 'Corp Brief') PMLA - Special Courts under PMLA cannot take cognizance of prosecution complaint without first giving accused opportunity of hearing, as mandated under first proviso to Sec 223(1) of BNSS: SC (See 'Legal Desk') Gadkari reviews quality of NH Projects in West Bengal and AP (See 'Corp Brief') Digital India BHASHINI & DPIIT sign MoU for Multilingual Access Across India's Investment Ecosystem (See 'Corp Brief') NI Act - After adoption of electronic clearance system, cheque return memo or bank endorsement need not bear seal or signature to be acted upon under Sections 138 and 146: HC (See 'Legal Desk') National Workshop on R&D in Water to drive Bharat's Next Wave of Water Innovation (See 'Corp Brief') PM SVANidhi completes Six Years of Empowering Street Vendors (See 'Corp Brief') DCA reviews implementation of Legal Metrology Reforms in N-E and UTs (See 'Corp Brief') Raksha Mantri & UP Chief Minister inaugurate 'Nausena Shaurya Vatika' in Lucknow (See 'Corp Brief') IBC - Offences u/s 68 and 235A of Code can be prosecuted only before competent Special Court in manner prescribed u/s 236 of Code: NCLT (See 'Legal Desk') A Highway bringing New Possibilities to Heart of Central India: Boregaon to Shahpur (See 'Corp Brief') National Biodiversity Authority realises Rs. 21.26 Crore through Benefit Sharing Mechanism (See 'Corp Brief') Ayushman Bharat Digital Mission crosses Landmark Milestone of 90 Crore ABHA Accounts (See 'Corp Brief') SEBI - Assessee's request for inspection of documents cannot be allowed where these form part of SEBI's internal administrative process & are not necessary for replying to SCN: SAT (See 'Legal Desk') Moratorium under the IBC (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.