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National Fertilizers to get Rs 3,850 crore worth of funding from banks

25 Aug 2010 Evaluate

Government-owned National Fertilizers (NFL) is likely to receive Rs 3,850 crore worth of funding from around 13 banks. Funds raised from banks will be utilized for augmenting urea capacity of the company.

 

Recently, the company ventured into wind power generation business with a plan to set-up 14.7 megawatt (MW) project in Rajasthan. The proposed project, worth Rs 72 crore, is slated to be completed by the end of September.

 

NFL is the second largest producer of urea in India. The company had posted a net profit of Rs 17.78 crore for the quarter ended June 30, 2010 on the back of revenues of Rs 1,166.01 crore.crackcrack

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