The Union Cabinet on Wednesday approved the setting up of a urea plant in Assam with an estimated cost of Rs 10,601.4 crore as part of its effort to reduce the import of this key crop nutrient and make India self-sufficient.
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal for setting up a new brownfield Ammonia-Urea Complex of 12.7 lakh tonnes annual capacity of urea production within the existing premises of Brahmaputra Valley Fertilizer Corporation Ltd (BVFCL), Namrup Assam, Information & Broadcasting Minister Ashwini Vaishnaw told reporters.
The plant will be established with an estimated total project cost of Rs 10,601.40 crore with a debt-equity ratio of 70:30 through a Joint Venture (JV).
