Coal India (CIL) has inked a supplementary Joint Venture Agreement (JVA) for revival of Sindhri & Gorakhpur units of Fertilizer Corporation of India (FCIL). The JVA is signed with Indian Oil Corporation (IOCL), FCIL and Hindustan Fertilizers Corporation of India (HFCL). In addition to revival of Sindhri & Gorakhpur units, it has also been decided to revive the Barauni Fertilizer unit of HFCL.
As per the JVA, CIL, NTPC and IOCL each will hold 29.67% shares and FCIL & HFCL together will hold remaining 10.99% shares. Earlier, on May 16, 2016, CIL had signed JVA with National Thermal Power Corporation (NTPC) for the same.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
