NFL to pick 18% stake for Rs 572 cr in JV to set up urea plant in Assam

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NFL to pick 18% stake for Rs 572 cr in JV to set up urea plant in Assam - Business Standard

Quick Summary:

In a regulatory filing on Friday, NFL informed that its board has given "consent to enter into Joint Venture Agreement with other nominated companies to form a Joint Venture company for setting up of a new Ammonia-Urea Complex Namrup-IV Fertilizer Plant at Namrup, Assam".

State-owned National Fertilizers Ltd (NFL) will pick up an 18 per cent stake for about Rs 572 crore in a proposed joint venture to establish a urea plant in Assam.

NFL will have an 18 per cent stake in the joint venture, which is being incorporated.