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The Centre has agreed in principle to remove Fertiliser Corporation of India’s Ramagundam plant in Andhra Pradesh from the Board for Industrial and Financial Reconstruction list of sick industries.
The Board had recently given the nod for revival of three closed urea units of FCI at Ramagundam, Sindri and Gorakhpur.
The Centre has indicated that the AP unit will be removed from the BIFR list and action would be initiated for its revival.
It was in 1992 that the unit was referred to BIFR, which subsequently declared it a sick industry. It was the first of its kind coal-based fertiliser plant, producing 1,500 tonnes of urea daily and employing over 1,500 people.
The Government has also agreed in principle to establish a gas-based fertiliser plant at Ramagundam with an estimated cost of Rs 5,000 crore. The project will be established by the National Fertilisers Ltd, Engineers India Ltd and FCI.
Chief Minister N. Kiran Kumar Reddy thanked the Centre for the decision, requesting it to sanction a gas pipeline from KG Basin to supply gas to the proposed fertiliser unit.
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