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Time of India
12 hours ago
- Business
- Time of India
Coal India to invest Rs 1,067 crore in Talcher Fertilizers
Coal India Ltd (CIL) will invest over Rs 1,067 crore in Talcher Fertilizers Ltd (TFL) by acquiring shares through a rights issue. This investment aims to revive FCIL's fertilizer unit in Odisha via a coal gasification-based plant. The project, currently 65.66% complete, faced delays due to pandemic-related disruptions and is now undergoing regular reviews to address pending issues. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads State-owned CIL on Friday said it will invest a little over Rs 1,067 crore in Talcher Fertilizers Ltd by way of acquiring shares through rights Fertilizers Ltd was incorporated in 2015 as a joint venture company of GAIL (India) Ltd, Coal India Ltd (CIL), Rashtriya Chemicals & Fertilizers Ltd ( RCF ) and Fertilizer Corporation of India Limited ( FCIL ) for revival of FCIL's Fertilizer unit by setting up a coal gasification based fertilizer plant at Talcher, (India), CIL and RCF each holds 33.333 per cent in Talcher a filing to BSE, CIL said it will acquire 1,06,75,06,771 equity shares at a face value of Rs 10 each. The transaction is likely to be completed by July India accounts for over 80 per cent of domestic coal Fertilizers Ltd project, India's first coal gasification-based ammonia urea plant with a planned capacity of 12.7 lakh tonne per annum, has struggled to maintain its timeline since contracts were awarded to China's Wuhuan Engineering Company Ltd (WECL) in September of February 28, 2025, the overall project completion stands at 65.66 per cent, with Outside Battery Limit (OSBL) packages reaching 77.62 per cent completion, Minister of State for Chemicals and Fertilisers Anupriya Patel had informed the Lok OSBL components, including pipe rack, plant lighting, Boiler-1, raw water treatment plant, and DM water plant, have reached advanced stages of mechanical completion, she project, initially targeted for commissioning in September 2024, has missed its deadline due to pandemic-related disruptions that began when COVID-19 emerged in December 2019 in Wuhan, the headquarters of the main venture partners and the TFL board are conducting regular reviews of the project's progress, while TFL maintains frequent video conferences with WECL to resolve pending engineering issues, the minister added.
Time of India
13 hours ago
- Business
- Time of India
Fertilizers push: Coal India to infuse over Rs 1,067 crore in Talcher Fertilizers; coal gasification plant sees 65% progress
State-run Coal India Ltd (CIL) on Friday said it will invest more than Rs 1,067 crore in Talcher Fertilizers Ltd (TFL) by subscribing to equity shares through a rights issue, marking a significant step towards realising India's first coal gasification-based ammonia urea plant. TFL was set up in 2015 as a joint venture between GAIL (India) Ltd, CIL, Rashtriya Chemicals & Fertilizers Ltd (RCF), and Fertilizer Corporation of India Ltd (FCIL) to revive FCIL's defunct Talcher fertiliser unit in Odisha. GAIL, CIL, and RCF each hold 33.33% stake in the project, according to PTI. In a stock exchange filing, Coal India said it will acquire 1,06,75,06,771 equity shares at Rs 10 each, with the transaction expected to be completed by July 9. The flagship Talcher project is a key part of India's bid to convert coal into fertiliser feedstock. The Rs 13,277-crore urea plant is designed to produce 12.7 lakh tonnes of urea per annum using coal gasification technology. However, the plant has been running behind schedule since the EPC contract was awarded in 2019 to China's Wuhuan Engineering Company Ltd (WECL). Minister of State for Chemicals and Fertilisers Anupriya Patel told Parliament earlier this year that project progress as of February 28, 2025, stood at 65.66%, with the Outside Battery Limit (OSBL) components reaching 77.62% completion, the agency reported. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pessoas com dores no joelho devem ler isto Receita Anti-Dores Undo She also noted several OSBL installations such as the pipe rack, plant lighting, Boiler-1, and water treatment units have reached near-completion. Initially slated for commissioning in September 2024, the project missed its deadline due to pandemic-related disruptions stemming from the outbreak in Wuhan, China — the base of the contractor WECL. The TFL board and JV partners are now holding regular progress reviews, while project engineers continue coordinating via video conferencing with WECL to address outstanding engineering issues, the minister informed. Coal India, which produces over 80% of the country's coal, sees this investment as strategic to both its diversification and India's fertiliser self-sufficiency. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
