homepolitics NewsCabinet nod to extension of NIP 2012 for Hindustan Urvarak and Rasayan

Cabinet nod to extension of NIP-2012 for Hindustan Urvarak and Rasayan

The Cabinet Committee on Economic Affairs approved the Department of Fertilizers's proposal for extension of the New Investment Policy (NIP)-2012's applicability for the Hindustan Urvarak & Rasayan Limited's (HURL) three units in Gorakhpur, Sindri and Barauni.

By CNBCTV18.com Mar 22, 2022 4:29:24 PM IST (Published)


In a bid to achieve self-sufficiency in urea production, the Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved a proposal to extend New Investment Policy (NIP) for three units of Hindustan Urvarak and Rasayan Ltd (HURL) in Gorakhpur, Sindri and Barauni. The government encourages private entrepreneurs to invest in fertiliser manufacturing with an objective of ramping up domestic production capacities in India. The NIP 2012 was especially designed for this purpose.
Incorporated on June 15, 2016, HURL is a joint venture company by NTPC Ltd, Coal India Ltd (CIL) and Indian Oil Corporation (IOCL).
HURL is reviving the FCIL's Gorakhpur and Sindri units and the GFCL's Barauni Unit by setting up new gas-based urea plants, which will have installed capacity of 12.7 Lakh Metric Ton Per Annum each.