Oil India (OIL) has incorporated a joint venture company in the name of ‘Assam Valley Fertilizer and Chemical Company’ (AVFCCL). This joint venture company amongst Government of Assam (GoA), OIL, National Fertilizers (NFL), Hindustan Urvarak & Rasayan (HURL) and Brahmaputra Valley Fertilizer Corporation (BVFCL). Under this joint venture, the company holds 18% shareholding.
AVFCCL has been incorporated for setting up of a new Ammonia-Urea Complex Namrup IV Fertilizer Plant at Namrup, Assam.
Oil India, a navratna company, is Asia's oldest and biggest pioneer oil exploration and Production Company.