The Cabinet Committee on Economic Affairs has given its approval for extension of applicability of New Investment Policy (NIP)-2012 read with its amendment for the Ramagundam Fertilizers and Chemicals Limited.
RFCL is a Joint Venture Company consisting of National Fertilizers Limited, Engineers India Limited and Fertilizers Corporation of India Limited which was incorporated on 17th of February, 2015. RFCL is reviving the erstwhile Ramagundam Unit of FCIL by setting up a new gas-based green field neem coated Urea Plant with the installed capacity of 12.7 lakh Metric Tonnes per annum. The cost of the RFCL Urea project is over Rs 6,165 crore.
The state-of-the-art gas-based RFCL Plant is part of the initiative taken by the government to revive the closed urea units of FCIL in order to achieve self-sufficiency in the urea sector. The start of the Ramagundam plant will add 12.7 lakh Metric Tonnes per annum indigenous urea production in the country. It will help realize the vision to make India ‘Atmanirbhar’ in urea production.
It will be one of the largest fertilizer manufacturing units of South India. The project shall not only improve the availability of fertilizer to farmers but also give a boost to the economy in the region.