The joint venture will generate direct and indirect employment.

For the revival of three plants at Sindri, Gorakhpur and Barauni, the Chemicals and Fertilizers Ministry has recently provided Rs 1,257 crore interest-free loan to Hindustan Urvarak and Rasayan Ltd (HURL).

HURL is a joint venture between state-owned firms NTPC, CIL, IOCL and Fertiliser Corporation of India Ltd (FCIL). The loan agreement was executed here between the Department of Fertilizers and HURL in the presence of Union Minister for Chemicals and Fertilizers DV Sadananda Gowda; Secretary (Fertilizers); Additional Secretary (Fertilizers) and Managing Director, HURL, according to an official statement.

Gowda said that the approval of the loan to the three units of HURL is an important step towards achieving the government’s target to boost domestic urea output and reduce import dependency.

Furthermore, it will help the government’s Atmanirbhar Bharat campaign and will generate direct and indirect employment. The Cabinet Committee on Economic Affairs in 2016 had approved the revival of the Gorakhpur and Sindri units of FCIL and the Barauni unit of HFCL. 

Accordingly, a joint venture company was incorporated as HURL. The equity stake of National Thermal Power Corporation (NTPC), Indian Oil Corporation Ltd (IOCL), and Coal India Ltd (CIL) is 29.67 per cent each, whereas Fertilizer Corporation of India Limited (FCIL) has 10.99 per cent shareholding.

HURL is setting up three gas-based urea manufacturing units at Gorakhpur, Sindri and Barauni. The capacity of each plant is 12.7 lakh tonne per annum.