NFL backs Namrup IV fertiliser project in Assam with 18% equity

National Fertilizers Limited (NFL), a Navratna company, has announced its decision to become a part of the proposed Joint Venture Company for the establishment of the Namrup IV Fertiliser Plant in Assam. The Board of Directors of NFL, at its meeting, approved the proposal put forward by the Department of Fertilisers, agreeing to hold an 18 per cent equity stake in the venture.

The joint venture aims to set up a state-of-the-art Ammonia-Urea Complex at Namrup, Assam, marking a significant step in boosting fertiliser production in the region. The project is expected to be completed within 48 months from the zero date and will contribute significantly to India's self-reliance in urea production, NFL said in an NSE listing.

The proposed entity will operate in the fertiliser industry and will require approvals from the Department of Fertilisers, Ministry of Chemicals and Fertilisers, Government of India. NFL’s involvement in the project aligns with its strategic expansion plans to increase production capacity and enhance agricultural productivity.

ALCHEMPro News Desk (HU)